Vera Therapeutics (NASDAQ:VERA) Rating Increased to Strong-Buy at Wolfe Research

Wolfe Research upgraded shares of Vera Therapeutics (NASDAQ:VERA) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Wedbush upped their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank assumed coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price for the company. Finally, Wells Fargo & Company began coverage on Vera Therapeutics in a research report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $65.44.

Vera Therapeutics Stock Up 0.1 %

Shares of NASDAQ VERA opened at $38.11 on Monday. The business has a 50-day moving average of $41.00 and a two-hundred day moving average of $40.96. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -14.60 and a beta of 1.11. Vera Therapeutics has a 1 year low of $31.77 and a 1 year high of $51.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76.

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

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the 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 in the company, valued at $5,993,989.22. This trade represents a 10.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 52,500 shares of company stock valued at $2,305,625. Corporate insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERA. Mirae Asset Global Investments Co. Ltd. boosted 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 acquiring an additional 350 shares in the last quarter. KBC Group NV boosted its position in Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after purchasing an additional 1,387 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in Vera Therapeutics in the third quarter valued at $332,000. SG Americas Securities LLC increased its position in shares of Vera Therapeutics by 117.5% in the third quarter. SG Americas Securities LLC now owns 9,354 shares of the company’s stock valued at $413,000 after buying an additional 5,053 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Vera Therapeutics by 109.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock valued at $416,000 after buying an additional 4,914 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

About Vera Therapeutics

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.