Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $64.67 Consensus Price Target from Brokerages

Vera Therapeutics, Inc. (NASDAQ:VERA) has received a consensus rating of “Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $64.67.

VERA has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They set an “overweight” rating and a $70.00 price objective on the stock. Wolfe Research assumed coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price objective on the stock. Finally, Guggenheim lifted 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.

Vera Therapeutics Stock Performance

VERA stock opened at $27.99 on Wednesday. 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 stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -10.72 and a beta of 1.17. Vera Therapeutics has a 1 year low of $25.99 and a 1 year high of $51.61. The stock’s fifty day moving average is $33.01 and its two-hundred day moving average is $39.60.

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

Insider Buying and Selling

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $43.07, for a total transaction of $753,725.00. Following the transaction, the chief executive officer now directly owns 85,942 shares of the company’s stock, valued at $3,701,521.94. The trade was a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Huntington National Bank purchased a new position in Vera Therapeutics in the 4th quarter worth about $26,000. AlphaQuest LLC purchased a new position in Vera Therapeutics in the 4th quarter worth about $34,000. GF Fund Management CO. LTD. purchased a new position in Vera Therapeutics in the 4th quarter worth about $56,000. KBC Group NV increased its stake in Vera Therapeutics by 127.2% in the 4th 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. Finally, Summit Investment Advisors Inc. increased its stake 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 in the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.

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.