Analysts Set Vera Therapeutics, Inc. (NASDAQ:VERA) PT at $64.67

Vera Therapeutics, Inc. (NASDAQ:VERA) has earned an average recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $64.67.

A number of brokerages recently issued reports on VERA. JPMorgan Chase & Co. lowered their price target on 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 lifted their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wolfe Research started coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective for the company.

Hedge Funds Weigh In On Vera Therapeutics

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Vera Therapeutics by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock valued at $15,992,000 after purchasing an additional 10,717 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Vera Therapeutics by 11.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company’s stock valued at $2,722,000 after buying an additional 6,494 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Vera Therapeutics by 44.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 171,573 shares of the company’s stock worth $7,584,000 after buying an additional 52,573 shares during the period. Pier Capital LLC purchased a new position in Vera Therapeutics during the 3rd quarter worth approximately $4,573,000. Finally, Y Intercept Hong Kong Ltd raised its position in Vera Therapeutics by 283.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 30,911 shares of the company’s stock worth $1,366,000 after buying an additional 22,843 shares during the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.

Vera Therapeutics Stock Down 5.4 %

Shares of NASDAQ VERA opened at $18.86 on Friday. 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 has a 12-month low of $18.69 and a 12-month high of $51.61. The firm’s 50-day moving average price is $28.80 and its 200-day moving average price is $37.86. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.23 and a beta of 1.28.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. On average, equities research analysts anticipate that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

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.