Brokerages Set Vera Therapeutics, Inc. (NASDAQ:VERA) Target Price at $63.50

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have received an average rating of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $63.50.

A number of brokerages have recently issued reports on VERA. Wedbush upped their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price target on shares of Vera Therapeutics in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Guggenheim boosted their price target on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, October 28th.

Vera Therapeutics Stock Down 2.4 %

VERA stock opened at $41.41 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The stock has a market capitalization of $2.62 billion, a P/E ratio of -15.87 and a beta of 1.08. Vera Therapeutics has a fifty-two week low of $14.20 and a fifty-two week high of $51.61. The business has a 50-day moving average of $45.40 and a 200-day moving average of $40.62.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). On average, sell-side analysts anticipate that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $38.24, for a total transaction of $597,500.00. Following the transaction, the chief executive officer now owns 307,972 shares in the company, valued at $11,776,849.28. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the sale, the director now directly owns 131,553 shares of the company’s stock, valued at $6,318,490.59. This represents a 10.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,000 shares of company stock worth $3,675,681. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after buying an additional 350 shares during the period. Arizona State Retirement System lifted its position in shares of Vera Therapeutics by 14.4% during the 2nd quarter. Arizona State Retirement System now owns 9,907 shares of the company’s stock valued at $358,000 after acquiring an additional 1,250 shares during the period. Ensign Peak Advisors Inc grew its holdings in shares of Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock worth $425,000 after purchasing an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Vera Therapeutics by 30.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock worth $272,000 after purchasing an additional 1,737 shares during the period. Finally, Handelsbanken Fonder AB increased its position in shares of Vera Therapeutics by 19.0% in the third quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock worth $610,000 after purchasing an additional 2,200 shares during the period. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

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.