Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $42.43 Average PT from Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have earned an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $42.43.

Several brokerages recently issued reports on VERA. Raymond James lifted their price objective on Vera Therapeutics from $57.00 to $68.00 and gave the stock a “strong-buy” rating in a report on Friday, May 10th. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $37.82 on Friday. The stock has a market cap of $2.07 billion, a PE ratio of -18.45 and a beta of 0.99. Vera Therapeutics has a fifty-two week low of $9.24 and a fifty-two week high of $50.78. The firm’s fifty day simple moving average is $36.50 and its 200-day simple moving average is $39.86. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Analysts expect that Vera Therapeutics will post -2.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 14,471 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total value of $575,366.96. Following the sale, the chief executive officer now directly owns 322,667 shares in the company, valued at $12,829,239.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado purchased a new stake in shares of Vera Therapeutics during the second quarter worth about $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vera Therapeutics in the 2nd quarter valued at $163,000. Ameritas Investment Partners Inc. lifted its stake in shares of Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after purchasing an additional 688 shares during the period. Cetera Advisors LLC purchased a new position in shares of Vera Therapeutics during the 1st quarter worth $235,000. Finally, Quarry LP acquired a new stake in shares of Vera Therapeutics during the second quarter worth $235,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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.