Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $64.00

Vera Therapeutics (NASDAQ:VERA - Free Report) had its price objective hoisted by Guggenheim from $56.00 to $64.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Scotiabank began coverage on Vera Therapeutics in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $60.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 target price on shares of Vera Therapeutics in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on Vera Therapeutics from $62.00 to $72.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Finally, Evercore ISI upgraded Vera Therapeutics to a "strong-buy" rating in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $53.56.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA traded up $6.25 during midday trading on Monday, hitting $47.34. 2,793,169 shares of the company's stock were exchanged, compared to its average volume of 889,607. Vera Therapeutics has a 12-month low of $9.68 and a 12-month high of $50.78. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -21.35 and a beta of 1.00. The business's fifty day moving average price is $40.18 and its two-hundred day moving average price is $38.94.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, research analysts forecast that Vera Therapeutics will post -2.57 EPS for the current fiscal year.

Insider Activity

In other news, CEO Marshall Fordyce sold 23,125 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the completion of the sale, the chief executive officer now owns 307,972 shares of the company's stock, valued at approximately $14,182,110.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Beth C. Seidenberg sold 1,177 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, the director now owns 160,376 shares of the company's stock, valued at $6,737,395.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marshall Fordyce sold 23,125 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company's stock, valued at $14,182,110.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,398 shares of company stock valued at $3,655,713. 21.70% of the stock is currently owned by company insiders.

Institutional Trading of Vera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 worth $86,000 after acquiring an additional 350 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company's stock worth $172,000 after acquiring an additional 688 shares during the period. Arizona State Retirement System lifted its stake in Vera Therapeutics by 14.4% in the second quarter. Arizona State Retirement System now owns 9,907 shares of the company's stock worth $358,000 after acquiring an additional 1,250 shares during the period. Ensign Peak Advisors Inc lifted its stake in Vera Therapeutics by 13.5% in the second quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company's stock worth $425,000 after acquiring an additional 1,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Vera Therapeutics by 30.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company's stock worth $272,000 after acquiring an additional 1,737 shares during the period. Hedge funds and other institutional investors 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.