Jefferies upgraded Vera Therapeutics (VERA) to Buy from Hold with a price target of $26, up from $18. The analyst says investor and key onionin leader sentiment have shifted with a focus more on drugs that can stabilize kidney function in IgA nephropathy. Both Otsuka and Alpine Immune Sciences (ALPN) competitor data have “derisked” the mechanism for Vera’s atacicept and reinforced confidence in B-cell modulator drugs, the analyst tells investors in a research note.
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