Vera Therapeutics, Inc. (NASDAQ:VERA) Given Average Rating of “Buy” by Analysts

Vera Therapeutics, Inc. (NASDAQ:VERA) has received a consensus rating of “Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $63.33.

A number of equities research analysts have commented on VERA shares. Guggenheim raised their price target on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald decreased their price target on Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective for the company. Wolfe Research initiated coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price objective for the company. Finally, Wedbush cut 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, May 7th.

Vera Therapeutics Stock Performance

Shares of VERA opened at $19.64 on Monday. The business’s fifty day simple moving average is $22.74 and its two-hundred day simple moving average is $32.99. 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 has a 12 month low of $18.53 and a 12 month high of $51.61. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -7.52 and a beta of 1.28.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly 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 quarter in the previous year, the company earned ($0.56) earnings per share. Research analysts anticipate that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vera Therapeutics

A number of large investors have recently made changes to their positions in VERA. Vestal Point Capital LP lifted its holdings in Vera Therapeutics by 132.6% in the first quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $60,050,000 after acquiring an additional 1,425,000 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in 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 acquiring an additional 1,300,410 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in 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 purchasing an additional 727,656 shares in the last quarter. Federated Hermes Inc. boosted its position 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 worth $45,926,000 after buying an additional 671,881 shares during the period. Finally, Integral Health Asset Management LLC grew its stake in shares of 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 buying an additional 650,000 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

About Vera Therapeutics

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.