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

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

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald dropped their price target on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. HC Wainwright started coverage on Vera Therapeutics in a research report on Monday, May 5th. They issued a "buy" rating and a $75.00 price target on the stock. Wedbush cut their target price on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Finally, Wolfe Research started coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They set an "outperform" rating and a $49.00 price target on the stock.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vestal Point Capital LP increased its stake 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 worth $60,050,000 after purchasing an additional 1,425,000 shares in the last quarter. Avoro Capital Advisors LLC lifted its holdings in Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company's stock worth $237,247,000 after buying an additional 1,300,410 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Vera Therapeutics by 170.8% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company's stock valued at $48,788,000 after purchasing an additional 727,656 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Vera Therapeutics by 162.2% in the 4th quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company's stock valued at $45,926,000 after purchasing an additional 671,881 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in shares of Vera Therapeutics by 130.0% in the 4th quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company's stock valued at $48,634,000 after purchasing an additional 650,000 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Stock Performance

NASDAQ VERA traded down $0.61 during trading on Monday, hitting $19.32. The company's stock had a trading volume of 28,190 shares, compared to its average volume of 787,346. 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 firm has a market cap of $1.23 billion, a P/E ratio of -7.35 and a beta of 1.28. The firm has a 50 day moving average price of $22.10 and a 200 day moving average price of $32.41. Vera Therapeutics has a 52 week low of $18.53 and a 52 week high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the previous year, the business posted ($0.56) earnings per share. Equities research analysts forecast that Vera Therapeutics will post -2.89 earnings per share for the current fiscal 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.