BofA raised the firm’s price target on Vera Therapeutics (VERA) to $66 from $48 and keeps a Buy rating on the shares. The firm’s raised target reflects expected pricing for Vera’s lead drug based on class competitor pricing, which results in peak IgAN revenue of $2.2B, up from a prior forecast of $1.7B, the analyst tells investors. The firm also incorporates Vera’s recent equity raise, which it sees boosting the net cash position to $680M to support a strong mid-26 commercial launch, the analyst noted.
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