Travere Gains 11% on Securing Full FDA Nod for Kidney Disease Drug
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2024
0mins
Source: NASDAQ.COM
FDA Approval of Filspari: Travere Therapeutics received full FDA approval for its drug Filspari (sparsentan) to treat IgA nephropathy, making it the only non-immunosuppressive medication for this kidney disease. The approval expands the patient population eligible for treatment and is based on positive results from the PROTECT study.
Market Impact and Competitors: Following the announcement, Travere's stock rose nearly 11%, reflecting investor confidence in the expanded indication. The IgAN market also includes competitors like Calliditas Therapeutics with Tarpeyo and Novartis with Fabhalta, both of which have received FDA approvals for similar indications.
Analyst Views on TVTX
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 40.09 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.
14 Analyst Rating
12 Buy
2 Hold
0 Sell
Strong Buy
Current: 28.400
Low
31.00
Averages
40.09
High
49.00
Current: 28.400
Low
31.00
Averages
40.09
High
49.00
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.
