Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $61.00 at Guggenheim

Vera Therapeutics (NASDAQ:VERA - Free Report) had its target price hoisted by Guggenheim from $59.00 to $61.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on VERA. JPMorgan Chase & Co. upped their target price on Vera Therapeutics from $72.00 to $75.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Wolfe Research began coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price objective for the company. Wedbush increased their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an "overweight" rating and a $70.00 price target for the company. Finally, The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $58.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $65.11.

Vera Therapeutics Trading Down 5.1 %

VERA traded down $1.52 on Thursday, reaching $28.41. 789,763 shares of the company traded hands, compared to its average volume of 905,145. The company has a market cap of $1.80 billion, a P/E ratio of -10.89 and a beta of 1.11. 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 one year low of $25.99 and a one year high of $51.61. The firm has a fifty day simple moving average of $35.75 and a two-hundred day simple moving average of $40.35.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.11. As a group, equities research analysts expect that Vera Therapeutics will post -2.89 earnings per share for the current year.

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the 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 sale, the chief executive officer now directly owns 143,603 shares in the company, valued at approximately $5,993,989.22. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 52,500 shares of company stock worth $2,305,625 in the last ninety days. 21.70% of the stock is owned by insiders.

Institutional Trading of Vera Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock valued at $86,000 after purchasing an additional 350 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Vera Therapeutics by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,545 shares of the company's stock valued at $466,000 after buying an additional 4,118 shares during the period. AlphaCentric Advisors LLC purchased a new stake in shares of Vera Therapeutics in the third quarter worth about $332,000. Chartwell Investment Partners LLC grew its holdings in Vera Therapeutics by 63.5% during the third quarter. Chartwell Investment Partners LLC now owns 19,172 shares of the company's stock worth $847,000 after acquiring an additional 7,447 shares during the period. Finally, Victory Capital Management Inc. raised its position in Vera Therapeutics by 13.5% during the third quarter. Victory Capital Management Inc. now owns 38,253 shares of the company's stock valued at $1,691,000 after acquiring an additional 4,546 shares in the last quarter. Institutional investors and hedge funds 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.