Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Consensus Recommendation of “Buy” from Analysts

Vera Therapeutics, Inc. (NASDAQ:VERA) has received a consensus rating of “Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $64.67.

A number of brokerages have commented on VERA. JPMorgan Chase & Co. reduced their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target for the company. Guggenheim increased their price target on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Wolfe Research assumed coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price objective for the company.

Vera Therapeutics Trading Up 2.0 %

NASDAQ VERA opened at $28.36 on Wednesday. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics has a twelve month low of $25.99 and a twelve month high of $51.61. The firm has a market capitalization of $1.80 billion, a PE ratio of -10.87 and a beta of 1.17. The stock’s 50 day moving average is $33.89 and its 200 day moving average is $39.84.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.11. Research analysts forecast that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares in the company, valued at $5,993,989.22. The trade was a 10.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Large investors have recently bought and sold shares of the company. Avoro Capital Advisors LLC boosted its holdings in shares of Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock worth $237,247,000 after purchasing an additional 1,300,410 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Vera Therapeutics by 11.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company’s stock valued at $185,107,000 after acquiring an additional 437,940 shares during the last quarter. FMR LLC lifted its holdings in Vera Therapeutics by 9.6% in the fourth quarter. FMR LLC now owns 3,053,126 shares of the company’s stock valued at $129,117,000 after acquiring an additional 267,842 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Vera Therapeutics by 14.3% in the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock valued at $124,737,000 after acquiring an additional 369,387 shares during the last quarter. Finally, Holocene Advisors LP raised its position in Vera Therapeutics by 8.8% in the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock valued at $86,390,000 after purchasing an additional 158,451 shares during the period. 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.