Scotiabank analyst Greg Harrison raised the firm’s price target on Vera Therapeutics (VERA) to $65 from $55 and keeps an Outperform rating on the shares. The company recently reported positive topline data from the phase 3 ORIGIN trial of atacicept, with treatment using atacicept resulting in a 42% reduction in proteinuria compared to the placebo, the analyst tells investors. The firm overall believes the company is well positioned to capture a meaningful piece of the growing IgAN despite the competitive landscape.
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