Vera Therapeutics (VERA) AI Stock Analysis

• Market Cap: $2.97B
• Dividend Yield: N/A
• Average Volume (3M): 915.10K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• 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: 70,066,180
• 10 Day Avg. Volume: 850,607
• 30 Day Avg. Volume: 915,095
• 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: 1.01
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -9.50
• 1Y Price Target: $72.57
• Price Target Upside: 71.36% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -4.67
• Revenue Forecast (FY): $44.84M

• Rating: 48 Neutral
• Price Target: $42.00 ▼(-0.83% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held back primarily by accelerating losses and cash burn despite a relatively strong, low-leverage balance sheet. Technicals are weak near term (below key short-term moving averages with negative MACD), while the recent equity raise modestly improves financial flexibility but also underscores reliance on external funding.

Positive Factors

Balance Sheet Strength

Vera's sizable equity base and low leverage provide durable financial flexibility to fund R&D and clinical programs over the coming months. This reduces near-term refinancing risk and supports continued investment in atacicept development despite ongoing operating losses.

Regulatory Progress (BLA Priority Review)

A priority review designation materially shortens regulatory timelines and signals agency prioritization of atacicept. This is a structural advancement that raises the probability of a timely approval and enables concrete planning for a potential mid-2026 U.S. launch and commercialization build-out.

Cash Reserves / Runway

A cash position of ~$714.6M, plus available debt facility capacity, provides tangible runway to fund regulatory, commercial preparation, and ongoing trials through potential approval. This reduces immediate dilution pressure and supports near-term execution of launch plans.

Negative Factors

Accelerating Cash Burn

Operating cash flow deteriorated markedly to -$241.1M in 2025 and free cash flow was similarly negative, reflecting accelerating cash burn. For a pre-revenue biotech this elevates funding risk and could force additional financings or program cuts absent near-term revenue or partnership infusions.

Pre-revenue Funding Reliance

Vera has no product revenue and relies on external capital to finance operations and development. This structural dependence increases dilution and execution risk because commercial revenues, even if approved, will lag and may not immediately offset high R&D and launch expenses.

Senior Legal Departure

The departure of the Chief Legal Officer removes key legal and regulatory expertise during a critical BLA review and commercial planning phase. Such turnover can slow filings, complicate negotiations or licensing, and distract management during a pivotal execution window.

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 capitalization is a relative strength (low leverage with $604.5M equity vs. $77.3M debt in 2025), but the company is pre-revenue with sharply widening losses (net loss -$299.6M in 2025) and accelerating cash burn (operating cash flow -$241.1M in 2025), increasing funding risk.

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	0.00	0.00	0.00	846.00K	0.00
EBITDA	-315.47M	-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: Neutral
• Last Price: 42.35
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VERA, the sentiment is Neutral. The current price of 42.35 is below the 20-day moving average (MA) of 43.14, below the 50-day MA of 46.67, and above the 200-day MA of 31.05, indicating a neutral trend. The MACD of -0.99 indicates Positive momentum. The RSI at 42.13 is Neutral, neither overbought nor oversold. The STOCH value of 38.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	$3.27B	―	-30.02%	―	―	-5.73%
PHVS	56 Neutral	$1.79B	-8.59	-51.80%	―	―	-20.08%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
JANX	50 Neutral	$821.02M	-8.18	-12.48%	―	-23.37%	-42.45%
VRDN	49 Neutral	$2.81B	-8.19	-47.40%	―	23340.07%	18.06%
VERA	48 Neutral	$2.97B	-10.45	-73.25%	―	―	-53.44%
BHVN	48 Neutral	$1.72B	-1.51	-522.08%	―	―	18.76%

Vera Therapeutics Corporate Events

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.