Analysts Set Vera Therapeutics, Inc. (NASDAQ:VERA) PT at $32.29

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have received an average recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $32.29.

Several analysts recently commented on VERA shares. Raymond James raised Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $29.00 to $37.00 in a report on Friday, January 26th. Wedbush lifted their price objective on Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Oppenheimer started coverage on Vera Therapeutics in a report on Thursday, January 25th. They issued an “outperform” rating and a $26.00 price objective for the company. Guggenheim reissued a “buy” rating and set a $56.00 price target on shares of Vera Therapeutics in a report on Friday, April 5th. Finally, Cantor Fitzgerald started coverage on Vera Therapeutics in a report on Monday, January 8th. They set an “overweight” rating for the company.

Vera Therapeutics Stock Performance

Shares of VERA opened at $39.65 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.71 and a quick ratio of 7.71. Vera Therapeutics has a one year low of $6.07 and a one year high of $50.78. The firm has a market capitalization of $2.16 billion, a P/E ratio of -17.31 and a beta of 1.05. The business has a fifty day moving average of $43.12 and a 200 day moving average of $26.95.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Wednesday, March 20th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.05). As a group, sell-side analysts anticipate that Vera Therapeutics will post -2.18 EPS for the current year.

Insider Activity

In other news, CFO Sean Grant sold 99,828 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $39.61, for a total value of $3,954,187.08. Following the transaction, the chief financial officer now directly owns 66,337 shares in the company, valued at $2,627,608.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Vera Therapeutics news, Director Maha Katabi acquired 161,290 shares of the stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average cost of $31.00 per share, for a total transaction of $4,999,990.00. Following the completion of the transaction, the director now directly owns 3,628,446 shares of the company’s stock, valued at $112,481,826. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sean Grant sold 99,828 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $39.61, for a total value of $3,954,187.08. Following the completion of the transaction, the chief financial officer now owns 66,337 shares in the company, valued at $2,627,608.57. The disclosure for this sale can be found here. Insiders have sold 526,551 shares of company stock worth $21,533,345 over the last ninety days. Corporate insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Vera Therapeutics by 9.3% in the third quarter. Vanguard Group Inc. now owns 1,574,390 shares of the company’s stock worth $21,585,000 after buying an additional 134,125 shares in the last quarter. Barclays PLC lifted its position in shares of Vera Therapeutics by 964.6% in the third quarter. Barclays PLC now owns 71,703 shares of the company’s stock worth $983,000 after buying an additional 64,968 shares in the last quarter. Swiss National Bank purchased a new stake in shares of Vera Therapeutics in the third quarter worth about $668,000. Rafferty Asset Management LLC purchased a new stake in shares of Vera Therapeutics in the third quarter worth about $1,870,000. Finally, Citigroup Inc. lifted its position in shares of Vera Therapeutics by 470.0% in the third quarter. Citigroup Inc. now owns 57,390 shares of the company’s stock worth $787,000 after buying an additional 47,322 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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.