Vera Therapeutics (NASDAQ:VERA) Shares Gap Up After Analyst Upgrade

Vera Therapeutics, Inc. (NASDAQ:VERA) gapped up prior to trading on Monday after Scotiabank raised their price target on the stock from $55.00 to $65.00. The stock had previously closed at $18.95, but opened at $31.74. Scotiabank currently has a sector outperform rating on the stock. Vera Therapeutics shares last traded at $30.15, with a volume of 3,543,128 shares.

Other research analysts have also recently issued research reports about the stock. Wedbush decreased their price target on shares of Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. HC Wainwright raised their price target on shares of Vera Therapeutics from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. Wolfe Research assumed coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target for the company. Cantor Fitzgerald decreased their price target on shares of Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Finally, Guggenheim raised their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $65.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Quarry LP raised its holdings in shares of Vera Therapeutics by 25.0% during the first quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $60,000 after purchasing an additional 500 shares during the last quarter. Huntington National Bank acquired a new stake in Vera Therapeutics during the fourth quarter valued at $26,000. Summit Investment Advisors Inc. grew its position in Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after buying an additional 639 shares during the period. AlphaQuest LLC acquired a new stake in Vera Therapeutics during the fourth quarter valued at $34,000. Finally, Alliancebernstein L.P. grew its position in Vera Therapeutics by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company’s stock valued at $1,706,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Trading Up 67.5%

The company 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 quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average is $22.06 and its 200 day moving average is $31.86.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same quarter in the prior year, the business posted ($0.56) EPS. Research analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

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.