Shares of Vera Therapeutics (VERA) sold off about 20% on Friday following news in competitor Otsuka’s 2024 earnings presentation that the company plans to file for at home, monthly, self-administration sibeprenlimab, in a prefilled syringe, for the treatment of IgA Nephropathy, Evercore ISI analyst Liisa Bayko tells investors in a research note. The firm, which has an Outperform rating and $75 price target on the stock, says the firm continues to like Vera for atacicept attributes, as it will be one of the first truly disease modifying therapies for IgAN with unique mechanism of action and is the only company with 2-year data showing stabilization of estimated glomerular filtration rate. The firm views the selloff as a buying opportunity.
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