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JPMorgan Chase & Co. Boosts Vera Therapeutics (NASDAQ:VERA) Price Target to $75.00

Vera Therapeutics logo with Medical background

Vera Therapeutics (NASDAQ:VERA - Get Free Report) had its price objective raised by JPMorgan Chase & Co. from $72.00 to $75.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 57.23% from the stock's previous close.

VERA has been the topic of several other research reports. Evercore ISI upgraded Vera Therapeutics to a "strong-buy" rating in a research note on Monday, September 16th. Scotiabank started coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $60.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $107.00 price target on shares of Vera Therapeutics in a report on Tuesday, October 1st. Finally, Guggenheim raised their target price on Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $53.89.

Get Our Latest Analysis on VERA

Vera Therapeutics Stock Up 5.6 %

Vera Therapeutics stock traded up $2.53 during mid-day trading on Tuesday, reaching $47.70. The stock had a trading volume of 843,649 shares, compared to its average volume of 910,178. The firm has a market capitalization of $2.62 billion, a PE ratio of -21.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. Vera Therapeutics has a fifty-two week low of $9.88 and a fifty-two week high of $50.78. The stock's 50-day simple moving average is $40.65 and its 200-day simple moving average is $38.90.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, sell-side analysts forecast that Vera Therapeutics will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the transaction, the chief executive officer now owns 307,972 shares in the company, valued at $11,548,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Beth C. Seidenberg sold 15,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the transaction, the director now owns 131,553 shares of the company's stock, valued at $6,318,490.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the sale, the chief executive officer now directly owns 307,972 shares of the company's stock, valued at $11,548,950. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,398 shares of company stock worth $4,376,163 over the last 90 days. Company insiders own 21.70% of the company's stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of VERA. Capstone Investment Advisors LLC acquired a new stake in shares of Vera Therapeutics during the first quarter worth about $248,000. Jennison Associates LLC acquired a new position in Vera Therapeutics in the first quarter valued at approximately $3,231,000. SG Americas Securities LLC lifted its holdings in Vera Therapeutics by 54.9% in the first quarter. SG Americas Securities LLC now owns 11,941 shares of the company's stock valued at $515,000 after acquiring an additional 4,232 shares during the period. Swiss National Bank lifted its holdings in Vera Therapeutics by 27.7% in the first quarter. Swiss National Bank now owns 62,200 shares of the company's stock valued at $2,682,000 after acquiring an additional 13,500 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Vera Therapeutics during the 1st quarter worth approximately $479,000. Institutional investors and hedge funds own 99.21% of the company's stock.

Vera Therapeutics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Vera Therapeutics (NASDAQ:VERA)

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