Wedbush analyst Laura Chico raised the firm’s price target on Vera Therapeutics (VERA) to $33 from $23 and keeps a Neutral rating on the shares. The firm notes the company completed an upsized $261M secondary offering. The deal included issuance of 6.1M shares of common stock at $42.50/share. The offering also incorporated an overallotment of 921k additional shares. Assuming exercise of the shoe, Wedbush estimates the offering will generate $281M in net proceeds. The firm’s prior estimates assumed a later offering of similar magnitude.
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Read More on VERA:
- Vera Therapeutics Completes Successful Stock Offering
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