Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $65.00 Average PT from Analysts

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been given a consensus recommendation of “Buy” by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $65.00.

Several equities analysts have issued reports on VERA shares. HC Wainwright reiterated a “buy” rating and issued a $85.00 target price (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Guggenheim reaffirmed a “buy” rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their target price 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. Wedbush lowered their target price on shares of Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald reduced their price target on Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th.

Vera Therapeutics Stock Performance

Shares of NASDAQ:VERA opened at $23.29 on Friday. The firm has a 50 day moving average of $22.59 and a 200 day moving average of $29.07. The company has a quick ratio of 27.68, a current ratio of 27.68 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -7.76 and a beta of 1.13. Vera Therapeutics has a 52 week low of $18.53 and a 52 week high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). During the same quarter last year, the firm posted ($0.56) earnings per share. On average, sell-side 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 news, Director Patrick G. Enright bought 209,393 shares of Vera Therapeutics stock in a transaction that occurred on Monday, June 23rd. The stock was bought at an average price of $20.87 per share, for a total transaction of $4,370,031.91. Following the purchase, the director now directly owns 3,569,522 shares of the company’s stock, valued at approximately $74,495,924.14. The trade was a 6.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.30% of the stock is currently owned by company insiders.

Institutional Trading of Vera Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vestal Point Capital LP raised its stake in shares of Vera Therapeutics by 132.6% in the first quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $60,050,000 after purchasing an additional 1,425,000 shares during the last quarter. Avoro Capital Advisors LLC increased its holdings in Vera Therapeutics by 30.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock worth $237,247,000 after buying an additional 1,300,410 shares during the period. Lord Abbett & CO. LLC raised its position in Vera Therapeutics by 170.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company’s stock worth $48,788,000 after buying an additional 727,656 shares during the last quarter. Federated Hermes Inc. lifted its stake in Vera Therapeutics by 162.2% during the 4th quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company’s stock valued at $45,926,000 after acquiring an additional 671,881 shares during the period. Finally, Integral Health Asset Management LLC lifted its stake in Vera Therapeutics by 130.0% during the 4th quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company’s stock valued at $48,634,000 after acquiring an additional 650,000 shares during the period. Hedge funds and other institutional investors 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.