Vera Therapeutics (NASDAQ:VERA) Given New $52.00 Price Target at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA) had its target price dropped by research analysts at JPMorgan Chase & Co. from $53.00 to $52.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 114.96% from the company’s previous close.

A number of other research firms have also recently commented on VERA. Wolfe Research reaffirmed a “peer perform” rating on shares of Vera Therapeutics in a report on Monday, August 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Vera Therapeutics in a research note on Thursday, September 18th. Bank of America began coverage on Vera Therapeutics in a research note on Thursday, October 16th. They set a “buy” rating and a $48.00 price target for the company. Finally, Weiss Ratings restated 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 issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $61.40.

Vera Therapeutics Stock Down 4.1%

Shares of NASDAQ VERA traded down $1.03 during mid-day trading on Friday, reaching $24.19. 1,286,101 shares of the company’s stock traded hands, compared to its average volume of 1,377,010. 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 business has a 50-day simple moving average of $27.28 and a 200 day simple moving average of $24.09. The stock has a market cap of $1.54 billion, a P/E ratio of -6.06 and a beta of 1.22. Vera Therapeutics has a 1-year low of $18.53 and a 1-year high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Wednesday, November 5th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.06). During the same period in the previous year, the company posted ($0.85) EPS. On average, analysts expect that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vestal Point Capital LP lifted its position in Vera Therapeutics by 132.6% during the first quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $60,050,000 after purchasing an additional 1,425,000 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new stake in shares of Vera Therapeutics during the 3rd quarter valued at $13,097,000. Price T Rowe Associates Inc. MD raised its position in shares of Vera Therapeutics by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,754,832 shares of the company’s stock valued at $114,212,000 after buying an additional 377,783 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Vera Therapeutics by 89.3% during the 2nd quarter. American Century Companies Inc. now owns 714,428 shares of the company’s stock worth $16,832,000 after acquiring an additional 336,978 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Vera Therapeutics in the second quarter worth $7,044,000. 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.