Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Consensus Rating of “Buy” from Analysts

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have earned an average rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $63.80.

VERA has been the subject of a number of research reports. Wedbush reduced their price objective on Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. Wolfe Research began coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price on the stock. Cantor Fitzgerald dropped their price target on shares of Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th.

Vera Therapeutics Stock Up 2.8 %

Vera Therapeutics stock opened at $22.62 on Thursday. The company has a market capitalization of $1.44 billion, a P/E ratio of -8.67 and a beta of 1.28. Vera Therapeutics has a 1-year low of $18.53 and a 1-year high of $51.61. The firm’s fifty day simple moving average is $24.48 and its 200-day simple moving average is $34.98. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the previous year, the business posted ($0.56) earnings per share. Sell-side analysts forecast that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC increased its holdings in shares of Vera Therapeutics by 30.2% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock valued at $237,247,000 after purchasing an additional 1,300,410 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Vera Therapeutics in the 4th quarter valued at $45,462,000. Lord Abbett & CO. LLC raised its position in shares of Vera Therapeutics by 170.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company’s stock worth $48,788,000 after acquiring an additional 727,656 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Vera Therapeutics by 162.2% during the fourth quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company’s stock valued at $45,926,000 after acquiring an additional 671,881 shares during the period. Finally, Integral Health Asset Management LLC boosted its holdings in Vera Therapeutics by 130.0% in the fourth quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company’s stock valued at $48,634,000 after acquiring an additional 650,000 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.