Vera Therapeutics (NASDAQ:VERA) Now Covered by Bank of America

Key Points

• Bank of America has initiated coverage of Vera Therapeutics (NASDAQ:VERA) with a "buy" rating and a price target of $48.00, indicating a potential upside of 54.84%.
• Vera Therapeutics recently reported earnings of ($1.20) per share, missing analysts' expectations, and its stock currently has an average rating of "Moderate Buy" with a price target of $61.50.
• Institutional investors hold 99.21% of Vera Therapeutics stock, indicating strong institutional interest in the company.

Analysts at Bank of America assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA - Get Free Report) in a research report issued on Thursday,Benzinga reports. The firm set a "buy" rating and a $48.00 price target on the stock. Bank of America's price objective points to a potential upside of 54.84% from the company's previous close.

Several other research analysts have also recently commented on VERA. Wolfe Research restated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Cantor Fitzgerald restated an "overweight" rating on shares of Vera Therapeutics in a research report on Thursday, September 18th. JPMorgan Chase & Co. decreased 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 report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vera Therapeutics in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vera Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $61.50.

Vera Therapeutics Price Performance

Shares of NASDAQ:VERA opened at $31.00 on Thursday. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16. Vera Therapeutics has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The firm has a 50-day simple moving average of $25.04 and a 200 day simple moving average of $23.30. The company has a market cap of $1.98 billion, a PE ratio of -8.66 and a beta of 1.23.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38). During the same quarter last year, the company earned ($0.62) EPS. On average, sell-side analysts anticipate that Vera Therapeutics will post -2.89 EPS for the current year.

Institutional Trading of Vera Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in Vera Therapeutics during the second quarter valued at approximately $51,000. Quarry LP lifted its stake in Vera Therapeutics by 25.0% during the first quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $60,000 after purchasing an additional 500 shares during the last quarter. AlphaQuest LLC lifted its stake in Vera Therapeutics by 404.7% during the first quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock valued at $96,000 after purchasing an additional 3,213 shares during the last quarter. Virtus Investment Advisers LLC lifted its stake in Vera Therapeutics by 14.8% during 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 during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Vera Therapeutics by 192.9% during 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 institutional investors and hedge funds.

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.

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