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On Monday, JPMorgan analysts reiterated an Overweight rating and maintained a $68.00 price target on Vera Therapeutics stock (NASDAQ: VERA), representing significant upside from the current price of $18.95. According to InvestingPro data, analyst targets range from $26 to $100, with the stock currently trading near its 52-week low. This decision follows the release of top-line data from the ORIGIN Phase 3 study of atacicept in IgA nephropathy (IgAN). The study showed a placebo-adjusted change in proteinuria of approximately 42% at week 36, surpassing expectations and improving on the phase 2b results.
The analysts highlighted the clean safety profile of atacicept and noted that Vera Therapeutics is the only B-cell modulator with 2-year eGFR data from the phase 2b experience. They suggested that based on the data, Vera shares should be in the high $20s to low $30s range, with potential for even higher valuations given the positive outcomes from the ORIGIN study. InvestingPro analysis indicates the company maintains a strong financial position, with more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.
The IgAN market is seen as large enough to accommodate multiple players and modalities. According to the analysts, for atacicept to become a blockbuster product, it would only need to capture about 10-15% market share, although they believe the market share could be higher, driving Vera shares beyond the previously mentioned range.
The analysts also mentioned upcoming competitive data from Otsuka’s sibeprenlimab, expected on Friday at the ERA event, and noted that the clean data from the ORIGIN study puts pressure on Otsuka to demonstrate a competitive profile. They reiterated the Overweight rating and inclusion of Vera Therapeutics on the J.P. Morgan Analyst Focus List, emphasizing the long-term potential of atacicept in the IgAN market. For deeper insights into VERA’s competitive position and access to 8 additional ProTips, visit InvestingPro.
In other recent news, Vera Therapeutics announced positive results from its ORIGIN Phase 3 trial for atacicept, a treatment for immunoglobulin A nephropathy (IgAN). The trial achieved its primary endpoint, showing a 46% reduction in proteinuria from baseline and a 42% reduction compared to placebo at week 36. Vera Therapeutics plans to discuss these findings with the FDA, aiming to submit a Biologics License Application for accelerated approval in the fourth quarter of 2025. Evercore ISI has maintained an Outperform rating on Vera Therapeutics, with a price target of $75, expressing optimism about the company’s preparations for an FDA meeting regarding accelerated approval. Cantor Fitzgerald also reiterated its Overweight rating, maintaining a $100 price target, and highlighted the potential of atacicept in addressing unmet needs in IgAN treatment. The positive Phase 3 trial results have sparked interest, with analysts noting the promising future of atacicept in the IgAN treatment landscape. Vera Therapeutics continues its efforts in research and development, with ongoing trials and regulatory discussions expected to shape its path forward.
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