Vera Therapeutics (NASDAQ:VERA) Given New $85.00 Price Target at HC Wainwright

Vera Therapeutics (NASDAQ:VERA) had its price objective boosted by HC Wainwright from $75.00 to $85.00 in a report issued on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the stock. Cantor Fitzgerald cut their target price on shares of Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Guggenheim boosted their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Wolfe Research started coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price target for the company. Wedbush cut their price objective on shares of Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Vera Therapeutics presently has an average rating of “Buy” and an average price target of $65.00.

Vera Therapeutics Price Performance

NASDAQ:VERA opened at $31.74 on Monday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -12.16 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. Vera Therapeutics has a 52 week low of $18.53 and a 52 week high of $51.61. The firm’s 50-day simple moving average is $22.06 and its 200 day simple moving average is $31.86.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). During the same quarter in the prior year, the business posted ($0.56) EPS. As a group, sell-side analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current year.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC raised its stake in Vera Therapeutics by 30.2% in the 4th 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 period. Price T Rowe Associates Inc. MD raised its stake in Vera Therapeutics by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,754,832 shares of the company’s stock valued at $114,212,000 after acquiring an additional 377,783 shares during the period. FMR LLC raised its stake in Vera Therapeutics by 9.6% in the 4th quarter. FMR LLC now owns 3,053,126 shares of the company’s stock valued at $129,117,000 after acquiring an additional 267,842 shares during the period. Vanguard Group Inc. raised its stake in Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock valued at $124,737,000 after acquiring an additional 369,387 shares during the period. Finally, Vestal Point Capital LP increased its position in shares of Vera Therapeutics by 132.6% during the first quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $60,050,000 after buying an additional 1,425,000 shares during the period. 99.21% of the stock is currently owned by 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.