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On Tuesday, H.C. Wainwright analysts raised the price target for Vera Therapeutics stock (NASDAQ: VERA) to $85 from $75, while maintaining a Buy rating. This adjustment follows strong topline results from the Phase 3 ORIGIN study evaluating atacicept for the treatment of immunoglobulin A nephropathy (IgAN). According to InvestingPro data, VERA’s stock has surged 66.7% in the past week, with analyst targets now ranging from $32 to $100 per share.
Vera announced on Monday that atacicept demonstrated a 46% reduction from baseline in urine protein creatinine ratio (UPCR), leading to a statistically significant 42% reduction compared to placebo at Week 36. The results from the ORIGIN 3 study align with previous outcomes from the ORIGIN 2b study, which showed a 43% reduction in UPCR compared to placebo. The market has responded positively to these developments, with the company now commanding a market capitalization of $2.02 billion.
The analysts noted that the UPCR reduction achieved by atacicept compares favorably to currently approved IgAN treatments, which have shown placebo-adjusted UPCR reductions ranging from 31% to 38%. The UPCR reduction is considered a surrogate endpoint accepted by the FDA for accelerated approval of IgAN treatments. InvestingPro analysis reveals that while the company maintains strong liquidity with a current ratio of 27.68, it faces near-term profitability challenges. Subscribers can access 8 additional key ProTips about VERA’s financial outlook.
Vera plans to meet with the FDA in the coming weeks to discuss the ORIGIN 3 results and future regulatory steps. The company aims to file a Biologics License Application with the FDA in the fourth quarter of 2025, with a potential market launch in 2026.
The company is scheduled to host a conference call to discuss the ORIGIN 3 data at 8:00 AM ET. H.C. Wainwright analysts have increased their probability of atacicept’s launch in IgAN to 90% from a previous estimate of 75%, prompting the updated price target.
In other recent news, Vera Therapeutics reported positive results from its ORIGIN Phase 3 trial for atacicept, a treatment for immunoglobulin A nephropathy (IgAN). The trial met its primary endpoint, showing a 46% reduction in proteinuria from baseline and a 42% reduction compared to placebo at week 36. These results exceeded investor expectations and demonstrated a favorable safety profile. Vera Therapeutics plans to discuss these findings with the FDA, aiming to submit a Biologics License Application for accelerated approval in late 2025. Analysts from TD Cowen, JPMorgan, and Evercore ISI have maintained positive ratings on Vera’s stock, citing the strong trial data and potential market impact. TD Cowen reaffirmed a Buy rating, while JPMorgan reiterated an Overweight rating, and Evercore ISI maintained an Outperform rating. Analysts suggest that the IgAN market is large enough for multiple players, and Vera’s atacicept could become a significant player if it captures a modest market share. Upcoming competitive data from Otsuka’s sibeprenlimab is also being closely watched, as its results may influence Vera’s market positioning.
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