Vera Therapeutics (NASDAQ:VERA) Now Covered by Analysts at Leerink Partners

Leerink Partners began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report released on Monday, Marketbeat Ratings reports. The firm issued a market perform rating and a $34.00 target price on the stock.

Other analysts also recently issued reports about the company. Raymond James Financial reissued a “strong-buy” rating on shares of Vera Therapeutics in a research report on Tuesday, September 15th. TD Cowen restated a “buy” rating on shares of Vera Therapeutics in a report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a research report on Friday, July 17th. Guggenheim upped their target price on shares of Vera Therapeutics from $56.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Bank of America increased their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.86.

Vera Therapeutics Price Performance

VERA stock opened at $27.72 on Monday. The business has a fifty day moving average of $32.66 and a two-hundred day moving average of $35.92. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -4.73 and a beta of 1.06. Vera Therapeutics has a 52-week low of $23.05 and a 52-week high of $56.05.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Monday, August 10th. The company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.58) by $0.06. During the same period in the previous year, the company posted ($1.20) earnings per share. As a group, research analysts anticipate that Vera Therapeutics will post -6.44 earnings per share for the current year.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 18,500 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total transaction of $684,500.00. Following the transaction, the chief executive officer directly owned 235,244 shares in the company, valued at $8,704,028. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

Institutional investors have recently modified their holdings of the company. Nykredit A S purchased a new position in Vera Therapeutics during the 2nd quarter valued at about $97,000. Strs Ohio acquired a new position in Vera Therapeutics in the 1st quarter valued at about $249,000. NINE MASTS CAPITAL Ltd purchased a new stake in Vera Therapeutics during the second quarter worth about $405,000. Arizona State Retirement System increased its stake in Vera Therapeutics by 12.3% during the second quarter. Arizona State Retirement System now owns 11,813 shares of the company’s stock worth $507,000 after purchasing an additional 1,295 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Vera Therapeutics by 114.2% during the first quarter. Sei Investments Co. now owns 13,001 shares of the company’s stock worth $523,000 after purchasing an additional 6,932 shares in the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s lead product candidate is atacicept, an investigational fusion protein designed to inhibit two immune signaling molecules, B-cell activating factor (BAFF) and a proliferation-inducing ligand (APRIL), which contribute to the survival and activity of antibody-producing B cells.

Vera is primarily studying atacicept as a potential treatment for immunoglobulin A nephropathy (IgA nephropathy), a chronic kidney disorder caused by the buildup of IgA immune complexes.