Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $61.50 Consensus Price Target from Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $61.50.

Several research analysts have commented on VERA shares. JPMorgan Chase & Co. reduced their price objective on Vera Therapeutics from $56.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Bank of America started coverage on Vera Therapeutics in a research note on Thursday, October 16th. They issued a “buy” rating and a $48.00 price target for the company. Wolfe Research restated a “peer perform” rating on shares of Vera Therapeutics in a report on Monday, August 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vera Therapeutics in a research report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a research report on Friday.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VERA. Quantbot Technologies LP acquired a new position in Vera Therapeutics in the 2nd quarter valued at approximately $51,000. Quarry LP lifted its holdings in shares of Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $60,000 after acquiring an additional 500 shares during the period. AlphaQuest LLC increased its position 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 in the last quarter. Virtus Investment Advisers LLC increased its position in shares of Vera Therapeutics by 14.8% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company’s stock worth $98,000 after purchasing an additional 539 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Vera Therapeutics by 192.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company’s stock valued at $99,000 after acquiring an additional 2,757 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Stock Performance

Shares of VERA opened at $29.22 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 17.03 and a current ratio of 17.03. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -8.16 and a beta of 1.23. Vera Therapeutics has a 52-week low of $18.53 and a 52-week high of $51.61. The stock’s 50-day simple moving average is $26.32 and its 200 day simple moving average is $23.73.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same quarter in the prior year, the firm posted ($0.62) earnings per share. Research analysts forecast 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.