Brokerages Set Vera Therapeutics, Inc. (NASDAQ:VERA) Target Price at $64.67

Vera Therapeutics, Inc. (NASDAQ:VERA) has been given an average recommendation of “Buy” by the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $64.67.

A number of research firms have commented on VERA. Guggenheim upped their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective on the stock. Wolfe Research initiated coverage on Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price for the company. Finally, 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 target price for the company.

Vera Therapeutics Price Performance

NASDAQ VERA opened at $27.34 on Wednesday. Vera Therapeutics has a 1 year low of $25.99 and a 1 year high of $51.61. The business’s fifty day moving average is $32.43 and its two-hundred day moving average is $39.50. The stock has a market capitalization of $1.74 billion, a P/E ratio of -10.48 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. On average, research analysts forecast that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds have recently added to or reduced their stakes in VERA. Huntington National Bank acquired a new position in Vera Therapeutics during the fourth quarter worth $26,000. AlphaQuest LLC bought a new stake in shares of Vera Therapeutics during the 4th quarter worth about $34,000. GF Fund Management CO. LTD. bought a new stake in shares of Vera Therapeutics during the 4th quarter worth about $56,000. KBC Group NV increased its holdings in shares of Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock worth $196,000 after purchasing an additional 639 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.