Vera Therapeutics (NASDAQ:VERA) Raised to Strong-Buy at Wolfe Research

Vera Therapeutics (NASDAQ:VERA) was upgraded by equities research analysts at Wolfe Research to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Guggenheim raised their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wedbush raised their price target on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Scotiabank started coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target for the company. The Goldman Sachs Group started coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $65.44.

Vera Therapeutics Stock Up 4.2 %

Shares of NASDAQ:VERA opened at $38.07 on Monday. The firm’s 50-day moving average is $41.21 and its two-hundred day moving average is $40.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics has a 1 year low of $31.77 and a 1 year high of $51.61. The firm has a market capitalization of $2.41 billion, a PE ratio of -14.59 and a beta of 1.11.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Analysts predict that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Buying and Selling at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the sale, the chief executive officer now directly owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 52,500 shares of company stock valued at $2,305,625 in the last three months. Corporate insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Holocene Advisors LP raised its holdings in Vera Therapeutics by 8.8% during the 3rd quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock worth $86,390,000 after buying an additional 158,451 shares during the period. Geode Capital Management LLC raised its holdings in shares of Vera Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock valued at $44,415,000 after acquiring an additional 20,223 shares during the period. Jennison Associates LLC raised its holdings in shares of Vera Therapeutics by 82.0% during the fourth quarter. Jennison Associates LLC now owns 813,861 shares of the company’s stock valued at $34,418,000 after acquiring an additional 366,763 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of Vera Therapeutics by 41.1% during the third quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock valued at $18,830,000 after acquiring an additional 124,197 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Vera Therapeutics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock valued at $15,992,000 after acquiring an additional 10,717 shares during the period. Institutional investors own 99.21% of the company’s stock.

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.