Piper Sandler Increases Target Price for Travere Therapeutics (TVTX)

Core Insights - Travere Therapeutics Inc. (NASDAQ:TVTX) is recognized as one of the 10 most shorted biotech stocks to consider for investment by hedge funds [1] Financial Performance - For Q4 2025, the company reported U.S. net product sales of $126.6 million, a significant increase from $73.5 million in Q4 2024, resulting in full-year U.S. net product sales of $410.5 million, reflecting an 82% year-on-year growth [1] - The company achieved a net income of $2.7 million for the quarter, a notable improvement from a net loss of $60.3 million in Q4 2024 [2] - As of December 31, 2025, Travere held $322.8 million in cash and equivalents, with expectations of further increases due to a projected $25 million sales-based milestone payment from Mirum Pharmaceuticals in the first half of 2026 [2] Analyst Ratings - Piper Sandler raised the price target for Travere Therapeutics from $35 to $38 on February 6, maintaining a Neutral rating, indicating an adjusted upside potential of nearly 40% at current levels [3] Company Overview - Travere Therapeutics is a biopharmaceutical company focused on developing therapies for rare kidney and metabolic diseases, aiming to address high unmet medical needs such as IgA nephropathy and cystinuria [4]