Vera Therapeutics (NASDAQ:VERA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Vera Therapeutics (NASDAQ:VERA) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $72.00 to $75.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 56.45% from the company’s current price.

VERA has been the topic of a number of other reports. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Scotiabank began coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Finally, Guggenheim boosted their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vera Therapeutics currently has an average rating of “Buy” and a consensus target price of $53.89.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA opened at $47.94 on Tuesday. The stock has a market cap of $2.63 billion, a P/E ratio of -21.69 and a beta of 1.03. Vera Therapeutics has a twelve month low of $9.99 and a twelve month high of $50.78. The stock has a 50 day moving average of $40.86 and a two-hundred day moving average of $38.97. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, research analysts forecast that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VERA. Mirae Asset Global Investments Co. Ltd. raised its position in Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after acquiring an additional 350 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after purchasing an additional 688 shares during the last quarter. Arizona State Retirement System lifted its stake in Vera Therapeutics by 14.4% in the 2nd quarter. Arizona State Retirement System now owns 9,907 shares of the company’s stock valued at $358,000 after buying an additional 1,250 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after buying an additional 1,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Vera Therapeutics by 30.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock worth $272,000 after buying an additional 1,737 shares in 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.