Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $63.33 Consensus Price Target from Analysts

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) have been given a consensus recommendation of "Buy" by the ten research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $63.33.

VERA has been the subject of several analyst reports. HC Wainwright initiated coverage on shares of Vera Therapeutics in a report on Monday, May 5th. They issued a "buy" rating and a $75.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Wolfe Research initiated coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 target price for the company. Wedbush lowered their target price 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. Finally, Guggenheim increased their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC boosted its position 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 purchasing an additional 1,300,410 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Vera Therapeutics by 8.6% in the first 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 boosted 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 valued at $129,117,000 after acquiring an additional 267,842 shares during the period. Vanguard Group Inc. boosted its position in shares of Vera Therapeutics by 14.3% in the fourth 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 boosted its position in shares of 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 period. Institutional investors own 99.21% of the company's stock.

Vera Therapeutics Stock Up 6.8%

Shares of VERA stock traded up $1.29 on Monday, hitting $20.16. The stock had a trading volume of 1,189,942 shares, compared to its average volume of 787,519. The business has a 50 day moving average of $22.25 and a 200 day moving average of $32.60. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -7.72 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics has a 12-month low of $18.53 and a 12-month high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its 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 firm posted ($0.56) EPS. As a group, analysts expect that Vera Therapeutics will post -2.89 EPS for the current year.

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.