H.C. Wainwright Reiterates Buy Rating on Vera Therapeutics (VERA)

H.C. Wainwright analyst Arthur He reiterated a Buy rating and $85.00 price target on Vera Therapeutics (NASDAQ: VERA).

The analyst commented: "On June 6, Otsuka presented the topline data from its ongoing Phase 3 VISIONARY study evaluating sibeprenlimab for the treatment of immunoglobulin A nephropathy (IgAN). Sibeprenlimab delivered a 51.2% placebo-adjusted reduction from baseline in urine protein creatinine ratio (UPCR). In light of this news, the market price of VERA reacted negatively, with the stock declining ~30%. However, we believe investors are overreacting to sibeprenlimab’s headline UPCR number without considering the difficulty of a cross-trial comparison and the nominal single-digit difference in UPCR reduction potential that may not be clinically meaningful. Last but not least, this multi-billion dollar market is large enough for multiple players. Hence, we continue to be a buyer of VERA on any weakness presented. Reiterate Buy rating and $85 PT."

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

Shares of Vera Therapeutics closed at $22.70 yesterday.

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