Vera Therapeutics (NASDAQ:VERA) PT Set at $65.00 by Scotiabank

Vera Therapeutics (NASDAQ:VERA) has been given a $65.00 price target by equities research analysts at Scotiabank in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 197.55% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright lifted their target price on shares of Vera Therapeutics from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Wedbush reduced their price target on shares of Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Wolfe Research assumed coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald cut their price objective 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, May 7th. One investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $65.00.

Vera Therapeutics Trading Down 28.7%

Shares of NASDAQ VERA traded down $8.79 during trading on Monday, reaching $21.85. The company had a trading volume of 8,887,996 shares, compared to its average volume of 910,402. The company has a quick ratio of 13.76, a current 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’s fifty day moving average price is $22.39 and its 200-day moving average price is $31.76. The stock has a market cap of $1.39 billion, a P/E ratio of -8.33 and a beta of 1.13.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data 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 previous year, the company earned ($0.56) EPS. As a group, research analysts expect that Vera Therapeutics will post -2.89 earnings per share for the current year.

Institutional Trading of Vera Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Avoro Capital Advisors LLC grew its holdings in Vera Therapeutics by 30.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock worth $237,247,000 after acquiring an additional 1,300,410 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Vera Therapeutics by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,754,832 shares of the company’s stock worth $114,212,000 after acquiring an additional 377,783 shares during the last quarter. FMR LLC increased its position in shares of Vera Therapeutics by 9.6% in the fourth quarter. FMR LLC now owns 3,053,126 shares of the company’s stock worth $129,117,000 after acquiring an additional 267,842 shares in the last quarter. Vanguard Group Inc. lifted its position in Vera Therapeutics by 14.3% during the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock worth $124,737,000 after acquiring an additional 369,387 shares in the last quarter. Finally, Vestal Point Capital LP boosted 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 purchasing an additional 1,425,000 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.