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BofA Securities initiated coverage on Vera Therapeutics, Inc. (NASDAQ:VERA), ahead of a key catalyst in 2026 for its lead drug, atacicept, for kidney disease.
• VERA is facing resistance from sellers. Track the action here.
Analyst Dina Ramadane says, “We view potential for upside in VERA shares coming from its lead drug, atacicept, launching into a multi-billion-dollar market which we expect to beat consensus and quell concerns about competitive risk.”
Also Read: Kidney Health-Focused Vera Therapeutics Stock Price Spikes On Heels Of Successful Trial Data
In April, Vera Therapeutics completed full enrollment (431 participants) in the pivotal ORIGIN Phase 3 trial of atacicept in patients with IgA Nephropathy (IgAN).
The company anticipates the 36-week primary efficacy endpoint data from the trial this quarter, which supports the planned Biologics License Application (BLA) for accelerated approval to the U.S. FDA in the second half of 2025.
BofA initiated with a Buy rating and price forecast of $48.
Analyst Ramadane writes the $3 billion nominal peak sales forecast (2037e) reflects that atacicept could offer a favorable treatment option in multiple autoimmune disorders, pending future clinical data validation.
IgAN, a rare kidney disease, represents a $15 billion peak market with high-priced biologics and likely favorable payer coverage.
BofA Securities projects atacicept's 2026-27 launch to exceed consensus by 15%-20%, as the Street underestimates its robust clinical profile, making it difficult for competitors to match.
By the first half of 2026, Vera is well-positioned to secure conditional marketing authorization in the U.S. for its lead drug, atacicept, in IgAN based on a positive interim data readout earlier this year.
Atacicept's clinical differentiation lies in its simple, small-volume autoinjector for at-home use. However, its once-weekly dosing is more frequent than competitors' Q2W (once every two weeks) and QM (once a month) schedules.
The autoinjector may be less competitive if Otsuka Holdings Co Ltd.'s (OTC:OTSKY) (OTC:OTSKF) sibeprenlimab gains at-home approval or if Vertex Pharmaceuticals Inc.’s (NASDAQ:VRTX) povetacicept launches with a Q4W autoinjector, currently in AI-driven development.
Vera is exploring less frequent dosing but plans to commercialize atacicept with a once-weekly autoinjector.
VERA Price Action: Vera Therapeutics stock is down 2.40% at $30.26 at publication on Thursday
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