Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $90.00

Vera Therapeutics (NASDAQ:VERA) had its price objective upped by analysts at HC Wainwright from $85.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 272.05% from the company’s current price.

A number of other research analysts have also commented on VERA. Bank of America assumed coverage on Vera Therapeutics in a research note on Thursday, October 16th. They issued a “buy” rating and a $48.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Vera Therapeutics in a research note on Thursday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of Vera Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Vera Therapeutics in a research note on Wednesday, October 8th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.90.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $24.19 on Monday. The firm’s 50-day moving average is $27.33 and its 200-day moving average is $24.15. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -6.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.21 and a current ratio of 12.21. Vera Therapeutics has a 52-week low of $18.53 and a 52-week high of $51.61.

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

Institutional Trading of Vera Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Vera Therapeutics by 6.3% during the third quarter. Vanguard Group Inc. now owns 3,190,653 shares of the company’s stock worth $92,720,000 after acquiring an additional 189,545 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Vera Therapeutics by 24.3% during the third quarter. Profund Advisors LLC now owns 18,992 shares of the company’s stock worth $552,000 after purchasing an additional 3,711 shares during the period. Candriam S.C.A. grew its stake in shares of Vera Therapeutics by 43.9% during the third quarter. Candriam S.C.A. now owns 427,189 shares of the company’s stock worth $12,414,000 after purchasing an additional 130,248 shares during the period. Optimize Financial Inc bought a new stake in shares of Vera Therapeutics in the 3rd quarter valued at about $510,000. Finally, AlphaQuest LLC increased its stake in Vera Therapeutics by 414.2% in the third quarter. AlphaQuest LLC now owns 5,214 shares of the company’s stock valued at $152,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.