Vera Therapeutics, Inc. (NASDAQ:VERA) Given Average Recommendation of “Buy” by Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been assigned an average recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $59.22.

Several analysts have weighed in on VERA shares. JPMorgan Chase & Co. boosted their price target on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank began coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Wells Fargo & Company started coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the 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 transaction, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,548,950. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,927 shares of company stock worth $3,800,796. 21.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vera Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after purchasing an additional 350 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Vera Therapeutics by 14.4% during the second quarter. Arizona State Retirement System now owns 9,907 shares of the company’s stock valued at $358,000 after acquiring an additional 1,250 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in shares of Vera Therapeutics by 13.5% in the second quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vera Therapeutics by 30.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after acquiring an additional 1,737 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Vera Therapeutics by 19.0% in the third quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock worth $610,000 after acquiring an additional 2,200 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Stock Up 0.7 %

VERA stock opened at $48.46 on Monday. The stock has a market capitalization of $3.07 billion, a PE ratio of -18.43 and a beta of 1.08. Vera Therapeutics has a 52 week low of $13.09 and a 52 week high of $51.61. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $44.51 and a 200 day moving average of $39.98.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Sell-side analysts forecast that Vera Therapeutics will post -2.89 earnings per share for the current year.

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.