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

Investment analysts at HC Wainwright assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $75.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 240.75% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Wolfe Research started coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target on the stock. Guggenheim raised their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group assumed 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. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $65.70.

Vera Therapeutics Trading Down 13.8 %

Shares of NASDAQ VERA opened at $22.01 on Monday. Vera Therapeutics has a twelve month low of $18.53 and a twelve month high of $51.61. The firm has a market cap of $1.40 billion, a PE ratio of -8.43 and a beta of 1.28. The business has a fifty day simple moving average of $24.63 and a two-hundred day simple moving average of $35.06. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Huntington National Bank acquired a new position in Vera Therapeutics in the 4th quarter worth approximately $26,000. AlphaQuest LLC acquired a new stake in shares of Vera Therapeutics in the fourth quarter worth $34,000. GF Fund Management CO. LTD. purchased a new position in shares of Vera Therapeutics during the fourth quarter worth $56,000. KBC Group NV lifted its position in Vera Therapeutics by 127.2% during 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. grew its position in Vera Therapeutics by 16.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock worth $196,000 after purchasing an additional 639 shares during the period. 99.21% of the stock is owned by institutional investors and hedge funds.

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.