Vera Therapeutics, Inc. (NASDAQ:VERA) experienced a notable increase in its stock price on Monday following an upgrade from HC Wainwright, which raised its price target from $85.00 to $90.00. The stock, which had closed the previous trading session at $24.19, opened at $26.00, reflecting significant investor interest. As of the latest trading session, shares of Vera Therapeutics were priced at $27.7480, with a trading volume of 558,182 shares.
Several other financial institutions have also weighed in on Vera Therapeutics’ stock. On Friday, JPMorgan Chase & Co. adjusted its price target downward from $53.00 to $52.00, maintaining an “overweight” rating. Meanwhile, Bank of America initiated coverage on October 16, offering a “buy” rating and a price target of $48.00. Cantor Fitzgerald reaffirmed an “overweight” rating on September 18, while Weiss Ratings issued a “sell (d-)” rating on October 8. Wolfe Research reiterated a “peer perform” rating in early August.
Overall, the consensus among equity research analysts indicates a bullish outlook for Vera Therapeutics. According to data from MarketBeat, the company currently holds a consensus rating of “Moderate Buy” with an average price target of $61.90. Notably, eight analysts have rated the stock as a Buy, with two recommending Hold and one advising Sell.
Institutional Investment Trends
Institutional investors have shown increasing interest in Vera Therapeutics, with several hedge funds recently modifying their holdings. Vestal Point Capital LP significantly increased its stake by 132.6% in the first quarter, now owning 2,500,000 shares valued at approximately $60,050,000. Capricorn Fund Managers Ltd entered the fray by acquiring a new stake worth about $13,097,000 in the third quarter.
Price T Rowe Associates Inc., based in Maryland, boosted its holdings by 8.6% during the first quarter, bringing its total ownership to 4,754,832 shares valued at about $114,212,000. Additionally, American Century Companies Inc. expanded its position by 89.3% in the second quarter, now holding 714,428 shares worth approximately $16,832,000.
Currently, institutional investors and hedge funds control 99.21% of Vera Therapeutics’ stock, underscoring the growing interest from large financial entities.
Company Performance Overview
Vera Therapeutics has reported a quick ratio of 12.21 and a debt-to-equity ratio of 0.19, indicating a strong financial position. Its market capitalization stands at approximately $1.77 billion, with a price-to-earnings (P/E) ratio of -6.95 and a beta of 1.22, suggesting moderate volatility compared to the market.
The company recently disclosed its quarterly earnings on November 5, reporting an earnings per share (EPS) of ($1.26). This figure fell short of analysts’ consensus estimate of ($1.20) by $0.06. In the same quarter last year, Vera Therapeutics recorded an EPS of ($0.85). Analysts predict that the company will post an EPS of ($2.89) for the current fiscal year, reflecting ongoing challenges in its financial performance.
Vera Therapeutics, a clinical-stage biotechnology firm, focuses on developing treatments for serious immunological diseases. Its primary product candidate, atacicept, is undergoing Phase III clinical trials for immunoglobulin A nephropathy and Phase II trials for lupus nephritis, highlighting the company’s commitment to addressing critical health issues.
As the company navigates its way through the financial landscape, investor sentiment remains cautiously optimistic, bolstered by recent analyst ratings and institutional investments.
