Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Average Recommendation of “Buy” from Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been given an average recommendation of “Buy” by the ten analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $64.67.

Several analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. JPMorgan Chase & Co. decreased their target price on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. Guggenheim upped their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Wolfe Research started coverage on Vera Therapeutics in a report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price objective for the company.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC boosted its stake in Vera Therapeutics by 30.2% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock valued at $237,247,000 after acquiring an additional 1,300,410 shares during the last quarter. Vestal Point Capital LP purchased a new stake in Vera Therapeutics in the fourth quarter worth $45,462,000. Lord Abbett & CO. LLC raised its stake in shares of Vera Therapeutics by 170.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company’s stock valued at $48,788,000 after buying an additional 727,656 shares during the period. Federated Hermes Inc. lifted its position in shares of Vera Therapeutics by 162.2% during the 4th quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company’s stock valued at $45,926,000 after buying an additional 671,881 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its stake in shares of Vera Therapeutics by 130.0% during the 4th quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company’s stock worth $48,634,000 after acquiring an additional 650,000 shares during the period. 99.21% of the stock is owned by hedge funds and other institutional investors.

Vera Therapeutics Trading Down 2.6 %

VERA opened at $23.37 on Thursday. The company has a fifty day moving average price of $24.93 and a two-hundred day moving average price of $35.56. Vera Therapeutics has a 1-year low of $18.53 and a 1-year high of $51.61. The company has a market cap of $1.49 billion, a P/E ratio of -8.95 and a beta of 1.28. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Analysts predict 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.