Travere Therapeutics price target raised to $30 from $12 at Evercore ISI

Evercore ISI analyst Liisa Bayko raised the firm’s price target on Travere Therapeutics to $30 from $12 and keeps an Outperform rating on the shares. The PARASOL workshop meeting was “favorable” for Travere, says Evercore, which thinks the company is more likely than not to get a nod from the FDA to file for expansion of Filspari into focal segmental glomerulosclerosis, or FSGS, on the basis of the existing Phase 3 DUPLEX dataset. Following the meeting, the firm has raised its view on the odds of success for the program to 60% from 10% and adjusted penetrance to 30%, the analyst noted.