Vera Therapeutics, Inc. (NASDAQ:VERA) Stock Has Average Target Price of $80.15

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $76.86.

A number of brokerages have recently issued reports on VERA. Guggenheim lifted their target price on Vera Therapeutics from $56.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. TD Cowen reissued a “buy” rating on shares of Vera Therapeutics in a report on Tuesday, September 15th. Bank of America lifted their price objective on shares of Vera Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Needham & Company LLC set a $125.00 target price on shares of Vera Therapeutics in a report on Wednesday, July 8th. Finally, HC Wainwright cut their price target on Vera Therapeutics from $125.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th.

Vera Therapeutics Stock Down 7.2%

VERA opened at $27.72 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.92 and a current ratio of 10.92. Vera Therapeutics has a 1 year low of $23.05 and a 1 year high of $56.05. The firm has a 50 day moving average price of $32.66 and a 200 day moving average price of $35.92. The company has a market cap of $2.00 billion, a PE ratio of -4.73 and a beta of 1.06.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.58) by $0.06. During the same period last year, the company earned ($1.20) earnings per share. Sell-side analysts expect that Vera Therapeutics will post -6.44 earnings per share for the current year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 18,500 shares of Vera Therapeutics stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total transaction of $684,500.00. Following the sale, the chief executive officer owned 235,244 shares of the company’s stock, valued at approximately $8,704,028. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VERA. Nykredit A S purchased a new stake in Vera Therapeutics in the 2nd quarter worth about $97,000. Strs Ohio purchased a new position in shares of Vera Therapeutics during the 1st quarter valued at $249,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Vera Therapeutics during the second quarter worth $405,000. Arizona State Retirement System grew its stake in Vera Therapeutics by 12.3% in the second quarter. Arizona State Retirement System now owns 11,813 shares of the company’s stock valued at $507,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Vera Therapeutics by 114.2% during the 1st quarter. Sei Investments Co. now owns 13,001 shares of the company’s stock valued at $523,000 after buying an additional 6,932 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s lead product candidate is atacicept, an investigational fusion protein designed to inhibit two immune signaling molecules, B-cell activating factor (BAFF) and a proliferation-inducing ligand (APRIL), which contribute to the survival and activity of antibody-producing B cells.

Vera is primarily studying atacicept as a potential treatment for immunoglobulin A nephropathy (IgA nephropathy), a chronic kidney disorder caused by the buildup of IgA immune complexes.