Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $64.00

Vera Therapeutics (NASDAQ:VERA) had its target price boosted by Guggenheim from $56.00 to $64.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

VERA has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Scotiabank began coverage on Vera Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $53.56.

Vera Therapeutics Stock Performance

NASDAQ VERA opened at $40.38 on Monday. The company has a market cap of $2.21 billion, a P/E ratio of -18.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. The business’s 50 day moving average price is $40.43 and its 200-day moving average price is $38.92. Vera Therapeutics has a fifty-two week low of $9.68 and a fifty-two week high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Sell-side analysts predict that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 14,471 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total value of $575,366.96. Following the completion of the sale, the chief executive officer now directly owns 322,667 shares in the company, valued at approximately $12,829,239.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, the director now directly owns 160,376 shares in the company, valued at approximately $6,737,395.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marshall Fordyce sold 14,471 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total value of $575,366.96. Following the sale, the chief executive officer now owns 322,667 shares of the company’s stock, valued at $12,829,239.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,398 shares of company stock worth $4,376,163. 21.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. AlphaCentric Advisors LLC purchased a new stake in shares of Vera Therapeutics during the 3rd quarter worth $332,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Vera Therapeutics by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,545 shares of the company’s stock worth $466,000 after purchasing an additional 4,118 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Vera Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after purchasing an additional 350 shares during the last quarter. Eastern Bank purchased a new stake in shares of Vera Therapeutics during the 3rd quarter worth $2,477,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Vera Therapeutics by 19.0% during the 3rd 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 last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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.