Vera Therapeutics (NASDAQ:VERA) Coverage Initiated at HC Wainwright

HC Wainwright started coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $75.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 240.75% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Guggenheim boosted their price target 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. Wolfe Research assumed coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price target for the company. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $65.70.

Vera Therapeutics Trading Down 13.8 %

Shares of Vera Therapeutics stock opened at $22.01 on Monday. The firm has a 50-day simple moving average of $24.63 and a two-hundred day simple moving average of $35.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. Vera Therapeutics has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The company has a market cap of $1.40 billion, a P/E ratio of -8.43 and a beta of 1.28.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). During the same period in the prior year, the firm posted ($0.56) earnings per share. As a group, equities analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank purchased a new stake in shares of Vera Therapeutics during the 4th quarter valued at approximately $26,000. AlphaQuest LLC acquired a new stake in Vera Therapeutics during the fourth quarter worth $34,000. GF Fund Management CO. LTD. purchased a new stake in Vera Therapeutics in the fourth quarter valued at $56,000. KBC Group NV raised its position in Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after purchasing an additional 1,387 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after purchasing an additional 639 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.