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

Vera Therapeutics, Inc. (NASDAQ:VERA) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $61.50.

VERA has been the subject of several research reports. Bank of America initiated coverage on Vera Therapeutics in a report on Thursday, October 16th. They issued a “buy” rating and a $48.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Vera Therapeutics from $56.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vera Therapeutics in a report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vera Therapeutics in a report on Thursday, September 18th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Vera Therapeutics in a report on Monday, August 4th.

Vera Therapeutics Price Performance

VERA opened at $30.41 on Thursday. The business has a fifty day moving average of $26.49 and a 200 day moving average of $23.80. Vera Therapeutics has a 52-week low of $18.53 and a 52-week high of $51.61. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.94 billion, a P/E ratio of -8.49 and a beta of 1.23.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period last year, the firm posted ($0.62) earnings per share. As a group, sell-side analysts anticipate that Vera Therapeutics will post -2.89 EPS for the current year.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Vera Therapeutics by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,754,832 shares of the company’s stock worth $114,212,000 after purchasing an additional 377,783 shares during the last quarter. Vestal Point Capital LP lifted its stake in shares of Vera Therapeutics by 24.0% during the 2nd quarter. Vestal Point Capital LP now owns 3,100,000 shares of the company’s stock worth $73,036,000 after purchasing an additional 600,000 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Vera Therapeutics by 18.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,675,367 shares of the company’s stock worth $40,243,000 after purchasing an additional 260,188 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Vera Therapeutics by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,294,958 shares of the company’s stock worth $30,513,000 after purchasing an additional 92,149 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Vera Therapeutics by 10.2% during the 1st quarter. Deutsche Bank AG now owns 892,859 shares of the company’s stock worth $21,446,000 after purchasing an additional 82,483 shares during the last quarter. 99.21% of the stock is currently 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.