Vera Therapeutics price target raised to $25 from $22 at JPMorgan

JPMorgan raised the firm’s price target on Vera Therapeutics to $25 from $22 and keeps an Overweight rating on the shares. The analyst says 72-week data for atacicept in IgA nephropathy from the Phase 2b ORIGIN study are expected this Thursday. The firm believes the ORIGIN data will continue to support the emerging and differentiated clinical profile of atacicept in IgAN. In a win scenario, it sees upside in Vera shares grinding back to the high-teens level, driven by probability of success increases and dispelling recent negative sentiment drivers. JPMorgan sees a downside scenario as an “extremely low probability.”