BofA Remains Positive on Travere Despite FDA Decision Delay for Filspari

Core Viewpoint - Travere Therapeutics Inc. is considered one of the best mid-cap growth stocks to buy, despite a recent delay in FDA approval for its drug Filspari, with a positive long-term outlook for approval [1][3]. Group 1: FDA Review and Approval Process - The FDA has extended the review period for Travere's supplemental New Drug Application for Filspari, with a new action date set for April 13 [2][3]. - The extension was due to Travere's submission of additional data requested by the FDA to better define the clinical benefits of Filspari, classified as a Major Amendment [3]. - The FDA has not requested further information regarding the safety or manufacturing of Filspari, indicating a focus on clinical data evaluation [3]. Group 2: Market Analysis and Investment Outlook - Bank of America has lowered its price target for Travere Therapeutics from $47 to $43 while maintaining a Buy rating, reflecting confidence in the company's potential despite the delay [1]. - The overall outlook for Filspari's approval remains positive, as the delay is seen as a temporary setback rather than a fundamental issue with the drug [1]. Group 3: Company Overview - Travere Therapeutics is a biopharmaceutical company focused on developing therapies for rare kidney and metabolic diseases in the US [4].