Guggenheim raises PT on Travere Therapeutics

Travere Therapeutics

14/01/2025 12:47

** Brokerage Guggenheim raises PT on drug developer Travere
Therapeutics  TVTX.O  to $45 from $41
    ** New PT represents a 142% upside to the stock's Monday
close
    ** TVTX's Filspari is an FDA-approved drug for the treatment
of IgA nephropathy (IgAN), a type of disease where a protein
called IgA builds up in the kidneys, causing inflammation
    ** On Monday, TVTX reported $50 mln in preliminary Filspari
net product sales in 4Q 2024, which is "somewhat above investor
expectations" of $45 mln, brokerage says
    ** Brokerage says it is "increasingly optimistic" about
Filspari's potential in IgAN and its potential label expansion
to Focal Segmental Glomerulosclerosis (FSGS), a type of kidney
disease, representing a $2 bln peak sales opportunity in the
U.S.
    ** Brokerage forecasts annual U.S. Filspari sales for 2025
at $266 mln 
        ** TVTX gained ~82 in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))