Travere Therapeutics' stock plummeted 30% as it hit a 20-day low, reflecting investor concerns following the FDA's request for additional information on its Filspari treatment.
The company's recent report highlighted approximately $103 million in net product sales for FILSPARI in Q4 2025, marking a 108% year-over-year growth. However, the stock's decline was exacerbated by the FDA's ongoing review of Filspari, which is crucial for its approval in treating Focal Segmental Glomerulosclerosis. This uncertainty has led to a significant market reaction, impacting investor confidence despite the strong sales performance.
The implications of this situation suggest that while Travere is experiencing strong demand for FILSPARI, the market's sensitivity to regulatory outcomes could lead to continued volatility in its stock price. The upcoming FDA decision will be pivotal for the company's future growth prospects.
Wall Street analysts forecast TVTX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TVTX is 42.89 USD with a low forecast of 31.00 USD and a high forecast of 49.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
Wall Street analysts forecast TVTX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TVTX is 42.89 USD with a low forecast of 31.00 USD and a high forecast of 49.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 30.280
Low
31.00
Averages
42.89
High
49.00
Current: 30.280
Low
31.00
Averages
42.89
High
49.00
Cantor Fitzgerald
Cantor Fitzgerald
Overweight
maintain
2025-12-24
Reason
Cantor Fitzgerald
Cantor Fitzgerald
Price Target
AI Analysis
2025-12-24
maintain
Overweight
Reason
Cantor Fitzgerald notes that Travere Therapeutics is up 15% following the announcement from Dimerix that the FDA, in written feedback, reconfirmed the percentage reduction of proteinuria at 2 years as an appropriate endpoint for full approval in FSGS for their drug, DMX-200. Given how close the Filspari FSGS PDUFA is, FDA's consistent messaging on proteinuria reduction as an approvable endpoint for FSGS is a positive for Travere Therapeutics, the firm says. Also, it seems that the FDA could be exercising some flexibility on the specific proteinuria based endpoint that will be sufficient for full approval, Cantor adds. Overall, the firm sees the news as a very positive update for Overweight-rated Travere as FDA's messaging on proteinuria as an approvable FSGS endpoint is consistent for now, and Dimerix likely has some wood to chop on getting accelerated approval.
Piper Sandler
Allison Bratzel
Neutral
maintain
$26 -> $35
2025-11-04
Reason
Piper Sandler
Allison Bratzel
Price Target
$26 -> $35
2025-11-04
maintain
Neutral
Reason
Piper Sandler analyst Allison Bratzel raised the firm's price target on Travere Therapeutics to $35 from $26 and keeps a Neutral rating on the shares. The firm notes Filspari had a strong Q3, with U.S. revenue of $90.9M coming in about $12M above consensus, representing +26% quarter-over-quarter growth and an impressive 155% year-over-year growth. Piper sees the upcoming regulatory decision for FSGS as the primary near-term driver for shares, with regulatory uncertainty leading the firm to remain on the sidelines.
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TD Cowen
Tyler Van Buren
Buy
maintain
$30 -> $40
2025-10-31
Reason
TD Cowen
Tyler Van Buren
Price Target
$30 -> $40
2025-10-31
maintain
Buy
Reason
TD Cowen analyst Tyler Van Buren raised the firm's price target on Travere Therapeutics to $40 from $30 and keeps a Buy rating on the shares. The firm said Q3 Filspari sales of $91MM (+26% Q/Q) led to an impressive 15% beat over consensus, underscoring strong demand, PSF pull-through, and persistence.
Citi
Yigal Nochomovitz
Buy
maintain
$34 -> $48
2025-10-31
Reason
Citi
Yigal Nochomovitz
Price Target
$34 -> $48
2025-10-31
maintain
Buy
Reason
Citi analyst Yigal Nochomovitz raised the firm's price target on Travere Therapeutics to $48 from $34 and keeps a Buy rating on the shares. Citi also added an "upside 90-day catalyst watch" on Travere. The firm expects FDA approval by the action date of January 13, 2026, for Filspari for the treatment of focal segmental glomerulosclerosis. Citi believes "everything seems to be moving in a positive direction" for Travere following the Q3 report.
About TVTX
Travere Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on identifying, developing, and delivering life-changing therapies to people living with rare kidney and metabolic diseases. Its product, FILSPARI (sparsentan), is indicated to reduce proteinuria in adults with primary IgAN at risk of rapid disease progression. FILSPARI is an oral, once-daily, non-immunosuppressive medication that directly targets glomerular injury in the kidney. Sparsentan is also in late-stage development for focal segmental glomerulosclerosis (FSGS). The Company’s Pegtibatinase is a novel investigational human enzyme replacement candidate being evaluated for the treatment of classical homocystinuria (HCU), which is a rare metabolic disorder. Its commercial products, Thiola and Thiola EC, are for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
