Vera Therapeutics (VERA) AI Stock Analysis

• Market Cap: $2.86B
• Dividend Yield: N/A
• Average Volume (3M): 1.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.31
• Revenue Growth: N/A
• EPS Growth: -53.44%
• Country: US
• Employees: 152
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.39
• Shares Outstanding: 71,355,670
• 10 Day Avg. Volume: 1,352,649
• 30 Day Avg. Volume: 1,084,190
• PEG Ratio: -0.16
• Price to Book (P/B): 5.38
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.46
• Enterprise Value/Market Cap: 0.88
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -8.81
• 1Y Price Target: $84.78
• Price Target Upside: 111.69% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): -5.21
• Revenue Forecast (FY): $44.09M

• Rating: 48 Neutral
• Price Target: $39.00 ▼(-2.62% Downside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is held back primarily by pre-revenue status, rapidly widening losses, and increasing cash burn, which heighten funding risk. Technical signals are also weak with the stock below key moving averages and a negative MACD. Offsetting factors include a low-leverage, well-capitalized balance sheet and a recent equity raise that strengthens liquidity, though shareholder dilution and leadership turnover add risk.

Positive Factors

Balance Sheet Strength

A sizable equity base and low debt-to-equity (~0.13 in 2025) provide durable financial flexibility to fund multi-year clinical development. This structural capitalization reduces immediate refinancing pressure and supports sustained R&D investment through key regulatory and clinical milestones.

Completed Equity Raise

The ~$260.9M follow-on offering materially increases available liquidity, extending the company’s runway and reducing near-term funding risk. Structurally, stronger cash reserves enable steady execution of costly late-stage trials and regulatory activities without immediate additional capital raises.

Positive Phase 3 Data/Regulatory Setup

Cited strong Phase 3 (ORIGIN 3) atacicept data and a favorable regulatory/commercial setup represent a lasting, structural catalyst. Robust pivotal data materially increases the probability of approval and future revenue potential in IgA nephropathy, altering the company’s long-term commercial outlook.

Negative Factors

Worsening Cash Burn

Operating cash outflows have accelerated materially (from -$92.2M in 2023 to -$241.1M in 2025), creating persistent structural funding needs. Over the medium term this elevates dilution or debt reliance risks and constrains capital available for parallel development or commercialization initiatives.

Pre‑Revenue with Accelerating Losses

As a clinical‑stage, pre‑revenue company, Vera’s economics hinge entirely on successful development and external financing. Accelerating losses (-$96M in 2023 to -$299.6M in 2025) increase the frequency and scale of future capital raises, pressuring shareholder dilution and long‑term financial sustainability absent approval.

Senior Legal Leadership Departure

The exit of the Chief Legal Officer removes a key leader for compliance, contracting and regulatory strategy at a sensitive stage for a clinical biotech. This structural gap can slow deal execution, complicate regulatory interactions, and increase transitional risk until a qualified replacement is integrated.

Vera Therapeutics Business Overview & Revenue Model

Company Description

Vera Therapeutics, Inc., a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases in the United States. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase IIb clinical trial for patients with immunoglobulin A nephropathy. It is also developing MAU868, a monoclonal antibody for the treatment of BK viremia infections and is under Phase 2 clinical trial. The company was formerly known as Trucode Gene Repair, Inc. and changed its name to Vera Therapeutics, Inc. in April 2020. Vera Therapeutics, Inc. was incorporated in 2016 and is headquartered in Brisbane, California.

How the Company Makes Money

Vera Therapeutics makes money primarily through the development and commercialization of its proprietary drug candidates. The company's revenue model includes licensing agreements, research collaborations, and eventually, sales of approved therapies. Key revenue streams involve upfront payments, milestone payments, and royalties from commercial partnerships with larger pharmaceutical companies. Significant partnerships with industry leaders and research organizations play a crucial role in advancing their drug development programs and contributing to potential future earnings.

Vera Therapeutics Financial Statement Overview

Summary

Balance sheet is a relative strength with low leverage (2025 debt-to-equity ~0.13) and sizable equity ($604.5M), but the company remains pre-revenue and losses are accelerating (net income from -$96.0M in 2023 to -$299.6M in 2025). Cash burn is also worsening (2025 operating cash flow -$241.1M), increasing reliance on external funding.

Income Statement

The company remains pre-revenue (revenue is $0 across the period), so profitability is driven entirely by operating spend. Losses have widened materially, with net income deteriorating from -$96.0M (2023) to -$152.1M (2024) and -$299.6M (2025), alongside a deeper EBIT loss (-$315.5M in 2025). While this pattern can be typical for clinical-stage biotech, the accelerating loss profile reduces earnings quality and increases reliance on external funding.

Balance Sheet

Balance sheet strength is relatively solid due to a sizable equity base ($604.5M equity vs. $77.3M debt in 2025), resulting in low leverage (debt-to-equity ~0.13 in 2025). Total assets have also expanded meaningfully (to $734.7M in 2025), suggesting strong capitalization. The key weakness is persistently negative returns on equity (2025 return on equity about -0.50), reflecting significant losses that will continue to pressure the capital base if spending remains elevated.

Cash Flow

Cash burn is significant and worsening, with operating cash flow declining from -$92.2M (2023) to -$134.7M (2024) and -$241.1M (2025), and free cash flow similarly negative (-$241.7M in 2025). A positive free cash flow growth figure in 2025 contrasts with the larger absolute outflow, indicating volatility rather than sustained improvement. Cash flow is roughly in line with accounting losses (free cash flow to net income ~1.00), but the scale of outflows elevates funding risk over time.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-468.00K	0.00	0.00	846.00K	0.00
EBITDA	-291.62M	-144.42M	-92.18M	-88.91M	-32.41M
Net Income	-299.62M	-152.15M	-95.99M	-89.06M	-32.61M
Balance Sheet
Total Assets	734.73M	655.68M	175.55M	131.44M	83.75M
Cash, Cash Equivalents and Short-Term Investments	714.59M	640.85M	160.72M	114.65M	79.67M
Total Debt	77.31M	54.64M	53.71M	31.29M	4.92M
Total Liabilities	130.21M	78.53M	73.86M	54.53M	14.16M
Stockholders Equity	604.52M	577.15M	101.69M	76.91M	69.59M
Cash Flow
Free Cash Flow	-241.73M	-135.65M	-92.24M	-67.66M	-23.71M
Operating Cash Flow	-241.10M	-134.68M	-92.18M	-67.60M	-23.71M
Investing Cash Flow	194.29M	-425.03M	-39.43M	-70.55M	-4.20M
Financing Cash Flow	308.90M	606.67M	133.54M	101.93M	53.88M

Vera Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 40.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VERA, the sentiment is Negative. The current price of 40.05 is below the 20-day moving average (MA) of 40.99, below the 50-day MA of 43.81, and above the 200-day MA of 32.32, indicating a neutral trend. The MACD of -0.97 indicates Negative momentum. The RSI at 43.43 is Neutral, neither overbought nor oversold. The STOCH value of 32.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VERA.

Vera Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EWTX	61 Neutral	$3.19B	-12.72	-31.97%	―	―	-5.73%
PHVS	56 Neutral	$1.73B	-8.91	-67.11%	―	―	-20.08%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
JANX	50 Neutral	$844.34M	-7.53	-11.55%	―	-23.37%	-42.45%
VRDN	49 Neutral	$2.94B	-5.48	-58.44%	―	23340.07%	18.06%
VERA	48 Neutral	$2.86B	-10.86	-59.72%	―	―	-53.44%
BHVN	45 Neutral	$1.45B	-1.64	-688.89%	―	―	18.76%

Vera Therapeutics Corporate Events

Vera Therapeutics Adds Christopher Hite to Board

On March 5, 2026, Vera Therapeutics, Inc. appointed Christopher Hite to its board of directors as a Class III director, with his initial term running through the 2027 annual meeting of stockholders. As part of his compensation, Hite received a nonstatutory stock option to purchase 24,937 shares of Class A common stock at an exercise price of $38.85 per share, which will vest monthly over three years, alongside a pro-rated $45,000 cash retainer for 2026.

Beginning with the 2027 annual meeting, Hite will be eligible for additional annual option grants subject to value and share caps, with each grant vesting on the earlier of one year from grant or the next annual meeting, conditional on continued service. The company noted that Hite will sign its standard indemnification agreement and that there were no preexisting arrangements or related-party transactions tied to his selection, underscoring a conventional and independent director appointment process for shareholders.

The most recent analyst rating on (VERA) stock is a Buy with a $110.00 price target. To see the full list of analyst forecasts on Vera Therapeutics stock, see the VERA Stock Forecast page.

Vera Therapeutics Announces Departure of Chief Legal Officer

On December 16, 2025, Vera Therapeutics, Inc. announced that Jason Carter will step down from his role as Chief Legal Officer, effective December 24, 2025. The leadership change removes a key executive from the company’s legal function and may signal an upcoming transition or reorganization within its senior management team.

The most recent analyst rating on (VERA) stock is a Buy with a $97.00 price target. To see the full list of analyst forecasts on Vera Therapeutics stock, see the VERA Stock Forecast page.

Vera Therapeutics Completes Successful Stock Offering

On December 9, 2025, Vera Therapeutics, Inc. announced a follow-on public offering of 6,138,108 shares of its Class A common stock at a price of $42.50 per share, expected to generate approximately $260.9 million in gross proceeds. The offering, set to close on December 11, 2025, includes an option for underwriters to purchase an additional 920,716 shares, which was fully exercised on December 10, 2025. This move is part of Vera Therapeutics’ strategy to strengthen its financial position and potentially expand its market presence, with implications for stakeholders depending on market conditions and other external factors.

The most recent analyst rating on (VERA) stock is a Buy with a $97.00 price target. To see the full list of analyst forecasts on Vera Therapeutics stock, see the VERA Stock Forecast page.