Travere Therapeutics (TVTX) shows a favorable setup on account of growth assets like Filspari, which is expected to draw "strong interest" as the first approved therapy for focal segmental glomerulosclerosis in the US, Wedbush Securities said in a note Monday.

The brokerage said Filspari patient start forms reached 993 in Q1, up 9% quarter-on-quarter, and are expected to increase to about 1,200 in Q2.

For Q2, Wedbush said it expects US Filspari revenue of $135 million, compared with consensus of $131 million, assuming $6 million for FSGS and $129 million for the IgA nephropathy indication.

Additionally, Wedbush increased its fiscal 2027 and beyond Filspari revenue trajectory on account of both higher net pricing and uptake in the FSGS segment, according to the note.

Wedbush Securities raised its price target to $61 from $55, and maintained its outperform rating on the stock.

Price: 55.61, Change: +0.45, Percent Change: +0.83