BofA raised the firm’s price target on Travere Therapeutics to $52 from $50 and keeps a Buy rating on the shares. The accelerated approval of Filspari in IgA nephropathy includes a REMS program with monthly liver monitoring for the first 12 months and quarterly thereafter, the analyst tells investors in a research note. The analyst does not think the liver monitoring REMS program will be prohibitive to Filspari reaching peak market penetration. However, it could slow the initial launch as nephrologists get used to navigating the program, the firm adds. It thinks the stock selloff Friday is overdone and Travere’s valuation "looks particularly attractive at this point."
Published first on TheFly
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