Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $63.00 Average Target Price from Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $63.00.

VERA has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $85.00 target price (up from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Vera Therapeutics from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Guggenheim restated a “buy” rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Wolfe Research restated a “peer perform” rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Finally, Scotiabank restated an “outperform” rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd.

Vera Therapeutics Stock Performance

NASDAQ VERA opened at $24.19 on Wednesday. Vera Therapeutics has a 1 year low of $18.53 and a 1 year high of $51.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03. The stock has a market capitalization of $1.54 billion, a PE ratio of -6.76 and a beta of 1.17. The company’s 50 day simple moving average is $22.19 and its two-hundred day simple moving average is $23.39.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period last year, the firm posted ($0.62) EPS. 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 related news, Director Patrick G. Enright acquired 40,607 shares of the stock in a transaction dated Tuesday, June 24th. The shares were purchased at an average price of $22.35 per share, for a total transaction of $907,566.45. Following the transaction, the director owned 3,596,593 shares in the company, valued at $80,383,853.55. This represents a 1.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 16.30% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Large investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Vera Therapeutics during the second quarter worth about $51,000. GF Fund Management CO. LTD. bought a new stake in Vera Therapeutics during the fourth quarter worth about $56,000. Quarry LP boosted its stake in Vera Therapeutics by 25.0% during the first quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $60,000 after acquiring an additional 500 shares in the last quarter. AlphaQuest LLC raised its holdings in Vera Therapeutics by 404.7% in the first quarter. AlphaQuest LLC now owns 4,007 shares of the company’s stock worth $96,000 after buying an additional 3,213 shares during the last quarter. Finally, Virtus Investment Advisers LLC raised its holdings in Vera Therapeutics by 14.8% in the second quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company’s stock worth $98,000 after buying an additional 539 shares during the last quarter. Institutional investors own 99.21% of the company’s stock.

About Vera Therapeutics

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.