Brokerages Set Vera Therapeutics, Inc. (NASDAQ:VERA) Target Price at $63.50

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $63.50.

Several analysts have commented on the stock. Scotiabank began coverage on shares of 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. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Guggenheim raised their target price on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th.

Vera Therapeutics Stock Down 2.4 %

VERA stock opened at $41.41 on Friday. The company has a market capitalization of $2.62 billion, a P/E ratio of -15.87 and a beta of 1.08. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics has a twelve month low of $14.20 and a twelve month high of $51.61. The firm has a 50 day simple moving average of $45.40 and a 200-day simple moving average of $40.62.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). On average, equities research analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 19,375 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $40.39, for a total value of $782,556.25. Following the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $12,438,989.08. This trade represents a 5.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the transaction, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. This represents a 10.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,000 shares of company stock worth $3,675,681. 21.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Vera Therapeutics by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 165,322 shares of the company’s stock valued at $5,981,000 after acquiring an additional 9,854 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Vera Therapeutics by 30.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after purchasing an additional 1,737 shares during the period. TD Asset Management Inc increased its stake in Vera Therapeutics by 18.4% during the 2nd quarter. TD Asset Management Inc now owns 154,338 shares of the company’s stock worth $5,584,000 after purchasing an additional 24,000 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Vera Therapeutics by 202.4% during the 2nd quarter. Victory Capital Management Inc. now owns 33,707 shares of the company’s stock worth $1,220,000 after buying an additional 22,560 shares during the period. Finally, Arizona State Retirement System lifted its stake in Vera Therapeutics by 14.4% in the second 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. Institutional investors own 99.21% of the company’s stock.

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.