Tvardi Therapeutics

TVRD · NASDAQ

$0.992+$0.022 (+2.27%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $0.97

TVRD analyst rating

BuyConsensus of 7 analysts over the last 12 months. 71% rate it a buy.

Strong buy0
Buy5
Hold1
Underperform1
Sell0

12-month price target · 10 analysts

Average $9.44 (+851.1% upside)

Low: $3.03
Now: $0.992
High: $14.70

Upgrades and downgrades

The latest rating actions, newest first

TVRD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Chardan Capital	Oct 20, 2026	Initiates	Buy	$8.00	0%
LUCID CAPITAL MARKETS	Sep 8, 2026	Initiates	Buy	$14.00	35%
BTIG	Jul 30, 2026	Maintains	Buy	$15.00 → $5.00	34%
Raymond James	Jul 8, 2026	Upgrade	Market Perform → Outperform	$10.00	70%
BTIG	Jul 7, 2026	Maintains	Buy	$15.00	34%
HC Wainwright & Co.	Jun 8, 2026	Initiates	Buy	$9.00	8%
Barclays	Apr 20, 2026	Downgrade	Equal-Weight → Underweight	$4.00 → $3.00	46%
Barclays	Apr 1, 2026	Maintains	Equal-Weight	$5.00 → $4.00	46%
Piper Sandler	Apr 1, 2026	Maintains	Neutral	$4.00 → $3.00	37%
BTIG	Apr 1, 2026	Maintains	Buy	$15.00	34%

The case for and against

Updated Oct 21, 2026

Bull case

Tvardi Therapeutics is attractive because its lead assets target STAT3, a highly relevant pathway across HCC, fibrosis, and inflammatory disease, and early human data show direct target engagement with 100% pY-STAT3 pharmacodynamic response in biopsied HCC patients and an 18% confirmed partial response rate. TTI-109 strengthens the platform by addressing the tolerability limitation seen with TTI-101, with no SAEs, no dose-dependent TEAEs, and much shorter diarrhea duration at near equivalent doses, while also supporting expansion into dermatologic and GI indications. Financially, the stock trades near cash, implying limited market value for the pipeline, so the 2H26 HCC topline and the 2Q26 TTI-109 healthy volunteer readout create asymmetric upside if the clinical signal and prodrug strategy continue to hold.

Bear case

Tvardi Therapeutics is a highly speculative clinical-stage company whose value depends almost entirely on unproven STAT3 inhibition, despite the target’s strong biological rationale in HCC and fibrosis. The company has no approved products or commercial revenue, and with only $25 million in cash and short-term investments as of March 31, 2026, management expects funding only into 4Q26, leaving material dilution and financing risk. Its lead asset, TTI-101, remains dependent on limited clinical data, while TTI-109 is still in Phase 1 with no indication selected, so setbacks, regulatory uncertainty, or failure to reproduce early results could leave the pipeline with near-zero intrinsic value.

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