<div id="readability-page-1"><div><p>Vera Therapeutics (VERA) has been on investors’ radar after upbeat analyst reports flagged two key drivers: rising revenue expectations for kidney drug candidate atacicept and a cash boost from a recent follow on equity raise.</p> <p>See our latest analysis for Vera Therapeutics.</p> <p>The upbeat story around atacicept and the recent equity raise is already showing up in the tape, with a roughly 80 percent 1 month share price return and a near doubling over three months. This builds on a strong 3 year total shareholder return that suggests momentum is firmly picking up rather than fading.</p> <p>If Vera’s surge has you rethinking your biotech exposure, this is a good moment to explore other healthcare names and uncover fresh ideas via healthcare stocks.</p> <p>With shares at record highs, analysts lifting targets toward the mid 70 dollar range and beyond, and cash in the bank to fund launch, is Vera still a mispriced growth story, or has the market already baked in the upside?</p> <h2>Price to Book of 9.1x: Is it justified?</h2> <p>Vera Therapeutics last closed at 51.22 dollars, and its price to book ratio of 9.1 times points to a market that is paying a sizeable premium versus the average US biotech peer.</p> <p>Price to book compares a company’s market value to its net assets, which is a common yardstick for early stage biotechs where traditional earnings based metrics are less useful.</p> <p>In Vera’s case, the 9.1 times level highlights that investors are assigning substantial value to future pipeline cash flows rather than today’s balance sheet. This stance can be reasonable for a high growth, pre revenue name, but it still assumes clinical and commercial execution will translate into sizeable book value creation over time.</p> <p>That premium looks stretched when stacked against the broader US biotechs industry, where the average price to book is 2.6 times. This suggests Vera’s valuation embeds more optimistic expectations than the typical peer, even after adjusting for higher growth potential.</p> <p>See what the numbers say about this price — find out in our valuation breakdown.</p> <p><strong>Result: Price to Book of 9.1x (OVERVALUED)</strong></p> <p>However, setbacks in atacicept’s clinical program or slower than expected IgAN adoption could quickly challenge today’s premium valuation and positive growth narrative.</p> <p>Find out about the key risks to this Vera Therapeutics narrative.</p> <h2>Another View: SWS DCF Model Flips the Script</h2> <p>While the 9.1 times price to book looks rich, our DCF model points in the opposite direction, suggesting Vera could be trading around 89 percent below an estimated fair value of roughly 468.88 dollars. Is the market underestimating atacicept’s long term cash flow potential? Or is the model too optimistic about execution and risk?</p> <p>Look into how the SWS DCF model arrives at its fair value.</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/737716ed-6a7f-4494-b2eb-bec848c628b6/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/737716ed-6a7f-4494-b2eb-bec848c628b6/chart/dcf"/><figcaption>VERA Discounted Cash Flow as at Dec 2025</figcaption></figure><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Vera Therapeutics for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 900 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p> <h2> Build Your Own Vera Therapeutics Narrative</h2> <p>If you see the numbers differently or want to dig into the details yourself, you can build a personalized story in minutes using Do it your way.</p> <p>A great starting point for your Vera Therapeutics research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.</p> <h2>Looking for more investment ideas?</h2> <p>Before you move on, lock in an edge by scanning fresh opportunities on Simply Wall Street’s Screener so you are not relying on Vera alone.</p> <ul> <li>Capture outsized upside potential by targeting early stage names using these 3631 penny stocks with strong financials with robust fundamentals instead of speculation alone.</li> <li>Position your portfolio for structural growth by tapping into these 29 healthcare AI stocks transforming diagnostics, treatment pathways, and healthcare efficiency.</li> <li>Boost your income stream and reduce volatility by focusing on these 12 dividend stocks with yields &gt; 3% that combine yield with underlying financial strength.</li> </ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><p>Mobile Infrastructure for Defense and Disaster</p><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p><p>Get the investor briefing before the next round of contracts</p><p><span>Sponsored On Behalf of CiTech</span></p></div></div></div>

VERA

<p>Vera Therapeutics (VERA) has seen a significant share price increase due to positive analyst reports and a recent equity raise for its kidney drug candidate atacicept. The stock has risen 80% in one month and nearly doubled in three months. Analysts have raised price targets to the mid $70 range. However, its price to book ratio of 9.1x suggests overvaluation compared to the industry average of 2.6x. A DCF model, however, indicates the stock could be undervalued by 89%. Risks include potential setbacks in atacicept's clinical program.</p>

Vera Therapeutics (VERA): Reassessing Valuation After Analyst Upgrades and Cash Boost for Atacicept Launch Prospects