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Vera Therapeutics downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded Vera Therapeutics (VERA) to Peer Perform from Outperform without a price target The firm sees limited near-term upside in the shares given a lack of catalysts, increasing competitive pressure and “fading” takeover prospects. Vera’s lead in immunoglobulin A nephropathy is shrinking with the likely November approval of Otsuka’s sibeprenlimab, which could be a first-to-market therapy with more convenient dosing, the analyst tells investors in a research note.

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