Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Vera Therapeutics (NASDAQ:VERA) has received a consensus rating of "Moderate Buy" from analysts, with two ratings as hold and seven as buy.
• The company's average 1-year price target among brokerages is $63.00, although JPMorgan recently lowered its target to $53.00.
• Vera Therapeutics reported a loss of ($1.20) EPS for the most recent quarter, missing the consensus estimate by ($0.38).

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $63.00.

A number of analysts have recently commented on VERA shares. JPMorgan Chase & Co. cut their target price on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. HC Wainwright reaffirmed a "buy" rating and issued a $85.00 price target (up from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Finally, Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday, August 4th.

Hedge Funds Weigh In On Vera Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of VERA. Quantbot Technologies LP purchased a new stake in Vera Therapeutics during the 2nd quarter valued at about $51,000. Quarry LP lifted its stake in Vera Therapeutics by 25.0% in the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after purchasing an additional 500 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Vera Therapeutics by 404.7% during the 1st quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock worth $96,000 after purchasing an additional 3,213 shares during the last quarter. Virtus Investment Advisers LLC grew its position in shares of Vera Therapeutics by 14.8% in the second quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company's stock valued at $98,000 after purchasing an additional 539 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Vera Therapeutics by 192.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company's stock valued at $99,000 after purchasing an additional 2,757 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

Vera Therapeutics Trading Up 4.6%

Shares of VERA stock opened at $28.20 on Friday. Vera Therapeutics has a 1-year low of $18.53 and a 1-year high of $51.61. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -7.88 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03. The stock has a 50 day simple moving average of $22.75 and a 200-day simple moving average of $23.02.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period in the prior year, the firm earned ($0.62) EPS. On average, equities research analysts expect that Vera Therapeutics will post -2.89 EPS 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.

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