Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $65.00 at Scotiabank

Vera Therapeutics (NASDAQ:VERA - Get Free Report) had its price target increased by equities research analysts at Scotiabank from $55.00 to $65.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective indicates a potential upside of 103.13% from the company's current price.

VERA has been the subject of a number of other research reports. Cantor Fitzgerald decreased their target price on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. HC Wainwright increased their target price on shares of Vera Therapeutics from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Monday. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Wedbush cut their price target on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Wolfe Research initiated coverage on Vera Therapeutics in a report on Tuesday, February 4th. They set an "outperform" rating and a $49.00 price target on the stock. One investment 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's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $65.00.

Vera Therapeutics Trading Up 3.5%

Shares of Vera Therapeutics stock traded up $1.09 on Monday, hitting $32.00. The stock had a trading volume of 2,516,381 shares, compared to its average volume of 868,402. The stock has a 50 day moving average of $22.26 and a 200 day moving average of $31.86. Vera Therapeutics has a twelve month low of $18.53 and a twelve month high of $51.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The firm has a market capitalization of $2.04 billion, a P/E ratio of -12.26 and a beta of 1.13.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same quarter last year, the business earned ($0.56) EPS. Sell-side analysts expect that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vera Therapeutics

A number of large investors have recently modified their holdings of the company. Avoro Capital Advisors LLC lifted its holdings in shares of Vera Therapeutics by 30.2% in the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Vera Therapeutics by 8.6% in 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 in the last quarter. FMR LLC lifted its holdings in shares of Vera Therapeutics by 9.6% in the 4th quarter. FMR LLC now owns 3,053,126 shares of the company's stock worth $129,117,000 after purchasing an additional 267,842 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock worth $124,737,000 after purchasing an additional 369,387 shares in the last quarter. Finally, Vestal Point Capital LP lifted its holdings in shares of Vera Therapeutics by 132.6% in the 1st 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. 99.21% of the stock is currently owned by 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.