HC Wainwright Initiates Coverage on Vera Therapeutics (NASDAQ:VERA)

Equities researchers at HC Wainwright began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research note issued to investors on Monday. The firm set a “buy” rating and a $75.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 196.38% from the stock’s previous close.

Several other equities analysts have also weighed in on VERA. JPMorgan Chase & Co. reduced their price target 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. The Goldman Sachs Group began coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price objective on the stock. Guggenheim lifted their target price 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. Finally, Wolfe Research initiated coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Vera Therapeutics presently has an average rating of “Buy” and an average target price of $65.70.

Vera Therapeutics Stock Down 0.0 %

Shares of NASDAQ:VERA traded down $0.01 during midday trading on Monday, hitting $25.31. 219,494 shares of the company’s stock were exchanged, compared to its average volume of 749,681. The company has a market cap of $1.61 billion, a PE ratio of -9.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics has a 12 month low of $18.53 and a 12 month high of $51.61. The stock has a 50 day moving average price of $24.82 and a 200-day moving average price of $35.26.

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

Hedge Funds Weigh In On Vera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VERA. Barclays PLC increased its position in shares of Vera Therapeutics by 94.1% in the third quarter. Barclays PLC now owns 85,395 shares of the company’s stock worth $3,774,000 after purchasing an additional 41,394 shares during the last quarter. SG Americas Securities LLC raised its position in Vera Therapeutics by 116.7% during the fourth quarter. SG Americas Securities LLC now owns 20,270 shares of the company’s stock valued at $857,000 after purchasing an additional 10,916 shares in the last quarter. KBC Group NV boosted its holdings in shares of Vera Therapeutics by 127.2% in the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after purchasing an additional 1,387 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Vera Therapeutics by 27.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,427 shares of the company’s stock valued at $568,000 after purchasing an additional 2,882 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Vera Therapeutics by 82.0% during the 4th quarter. Jennison Associates LLC now owns 813,861 shares of the company’s stock valued at $34,418,000 after buying an additional 366,763 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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.