Vera Therapeutics' Kidney Disease Drug Has Opportunity In A Competitive Development Landscape: Analyst
Portfolio Pulse from Vandana Singh
Raymond James initiated coverage on Vera Therapeutics Inc (NASDAQ:VERA), giving an Outperform rating and a price target of $29. The company's lead asset, atacicept, showed promising results in a Phase 2b trial for IgA Nephropathy and is currently in a Phase 3 study. Analysts believe the drug has the potential to achieve blockbuster status with peak sales of $1.5 billion by 2035, despite a competitive development landscape. VERA shares were down 0.78% at $15.88 at the last check.
December 18, 2023 | 6:59 pm
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Raymond James initiated coverage on Vera Therapeutics with an Outperform rating and a $29 price target, highlighting the potential of its lead drug atacicept in the IgA Nephropathy market.
The initiation of coverage by Raymond James with a positive outlook and a high price target suggests strong confidence in Vera Therapeutics' lead asset, atacicept. This endorsement, especially with the potential for blockbuster sales, is likely to generate investor interest and could positively impact the stock price in the short term. However, the actual stock movement will depend on market conditions and broader investor sentiment.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100