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JP Morgan started Travere overweight, sees stock as undervalued (TVTX)

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JP Morgan had kicked off Travere’s (NASDAQ:TVTX) coverage of its overweight rating, suggesting that the Street had not sufficiently appreciated the market potential of the company’s pegibatinase drug in the treatment of homocystinuria, or HCU.

The investment bank says pegibatinase has the potential to be a “long-term game changer” in HCU care and sees the stock as high-dollar into the $20s. JP Morgan set its price target for the stock at $26.

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