Vera Therapeutics (NASDAQ:VERA) Issues Earnings Results

Vera Therapeutics (NASDAQ:VERA) released its quarterly earnings results on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.11, Zacks reports.

Vera Therapeutics Stock Performance

VERA opened at $29.41 on Friday. 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 market cap of $1.86 billion, a PE ratio of -11.27 and a beta of 1.11. The business has a fifty day simple moving average of $36.00 and a 200-day simple moving average of $40.35. Vera Therapeutics has a fifty-two week low of $25.99 and a fifty-two week high of $51.61.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $46.94, for a total value of $821,450.00. Following the transaction, the chief executive officer now owns 85,942 shares of the company’s stock, valued at approximately $4,034,117.48. This trade represents a 16.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 52,500 shares of company stock valued at $2,305,625 over the last three months. Company insiders own 21.70% of the company’s stock.

Analyst Upgrades and Downgrades

VERA has been the subject of a number of recent analyst reports. Wolfe Research began coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target for the company. Wedbush raised their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their target price on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group began coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $65.11.

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.