Vera Therapeutics (NASDAQ:VERA) Posts Earnings Results, Beats Expectations By $0.11 EPS

Vera Therapeutics (NASDAQ:VERA) released its earnings results on Wednesday. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.11, Zacks reports.

Vera Therapeutics Stock Performance

NASDAQ VERA traded up $0.61 during trading on Wednesday, hitting $27.71. 324,634 shares of the company’s stock traded hands, compared to its average volume of 904,662. Vera Therapeutics has a 12-month low of $25.99 and a 12-month high of $51.61. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The business has a 50 day moving average of $36.53 and a 200-day moving average of $40.52.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total transaction of $753,725.00. Following the completion of the sale, the chief executive officer now directly owns 85,942 shares in the company, valued at $3,701,521.94. This represents a 16.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 52,500 shares of company stock valued at $2,305,625. 21.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VERA shares. Wells Fargo & Company started coverage on Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target for the company. Wedbush lifted their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $65.44.

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.