Raymond James Upgrades Tvardi Therapeutics Inc (TVRD) to Outperform

Raymond James analyst Ryan Deschner upgraded Tvardi Therapeutics Inc (NASDAQ: TVRD) from Market Perform to Outperform with a price target of $10.00.

The analyst comments: “We are upgrading TVRD to Outperform after the recently reported Phase 1 dataset for STAT3 inhibitor prodrug, TTI-109, showed evidence of placebo-like GI tolerability, general bioequivalence with TTI-101 in terms of dose-proportional exposure above the IC50 of STAT3, and substantial reductions in humoral and cellular immune populations across the explored active dosing range. TVRD is now pivoting away from IPF to one or more target indications in the GI and dermatology spaces, which, pending additional funding, could include one or more of the five indications specifically mentioned on the call: dermatomyositis, systemic sclerosis, ulcerative colitis, Crohn’s disease, and hidradenitis suppurativa. Given, in our view, 1) Tvardi has a viable STAT3 prodrug candidate that is apparently active in HCC and has shown evidence of being generally active in some GI and dermatology-related indications, and 2) it remains unclear which indication(s) Tvardi will pursue with TTI-109, we are adding a rather generalized placeholder systemic sclerosis market model with a relatively low PoS ($88M adjusted peak sales at 15% PoS) to our TVRD model, which already includes a market model for HCC ($220M adjusted peak sales at 40% PoS).”

For an analyst ratings summary and ratings history on Tvardi Therapeutics Inc click here. For more ratings news on Tvardi Therapeutics Inc click here.

Shares of Tvardi Therapeutics Inc closed at $3.10 yesterday.

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