Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $63.50 Average Target Price from Analysts

Vera Therapeutics, Inc. (NASDAQ:VERA) has been assigned an average rating of “Buy” from the eight analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $68.86.

A number of analysts recently issued reports on VERA shares. Wells Fargo & Company assumed coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Wedbush upped their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Guggenheim lifted their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th.

Vera Therapeutics Price Performance

Shares of VERA stock opened at $34.84 on Tuesday. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics has a 12-month low of $29.33 and a 12-month high of $51.61. The firm has a fifty day moving average of $42.38 and a 200-day moving average of $40.92. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -13.35 and a beta of 1.15.

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

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares of the company’s stock, valued at $5,993,989.22. This trade represents a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 52,500 shares of company stock worth $2,305,625 over the last ninety days. 21.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors have recently bought and sold shares of VERA. Jennison Associates LLC increased its holdings in shares of Vera Therapeutics by 82.0% during the 4th quarter. Jennison Associates LLC now owns 813,861 shares of the company’s stock worth $34,418,000 after acquiring an additional 366,763 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Vera Therapeutics by 27.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,427 shares of the company’s stock worth $568,000 after purchasing an additional 2,882 shares during the period. KBC Group NV increased its holdings in shares of Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after purchasing an additional 1,387 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Vera Therapeutics by 116.7% in the fourth quarter. SG Americas Securities LLC now owns 20,270 shares of the company’s stock valued at $857,000 after purchasing an additional 10,916 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Vera Therapeutics by 41.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock worth $18,830,000 after buying an additional 124,197 shares during the last quarter. 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.