Travere Therapeutics Faces 15% Stock Drop Due to FDA Review Delay for Filspari
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Review Extension: The FDA has extended the review timeline for Travere's drug Filspari to April 13, three months later than the original deadline of January 13, leading to a nearly 15% drop in stock price as investor confidence waned.
- Overreaction in Market: Analysts believe the market's reaction to the FDA delay is excessive, as Filspari could become the first approved drug for FSGS, indicating significant potential in the market despite the current setback.
- Drug Background: Filspari is already FDA-approved for treating IgA nephropathy (Berger's disease), demonstrating its efficacy in kidney disease treatment, and gaining approval for FSGS would further solidify Travere's position in the biopharmaceutical industry.
- Investor Confidence: Despite the review delay, Travere maintains a market capitalization of $3.1 billion, reflecting investor confidence in its long-term potential, particularly in the further development and commercialization of Filspari.
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: 34.100
Low
31.00
Averages
40.09
High
49.00
Current: 34.100
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.
