Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $80.15 Average Price Target from Analysts

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $80.1538.

A number of equities analysts have recently issued reports on VERA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vera Therapeutics in a report on Friday, July 17th. Bank of America raised their price objective on Vera Therapeutics from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Wedbush reiterated a “neutral” rating and set a $34.00 target price on shares of Vera Therapeutics in a research report on Monday, August 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $60.00 target price on shares of Vera Therapeutics in a report on Tuesday, June 2nd.

Vera Therapeutics Stock Down 0.8%

Shares of Vera Therapeutics stock opened at $34.00 on Friday. The company has a market cap of $2.45 billion, a P/E ratio of -5.80 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.92 and a current ratio of 10.92. Vera Therapeutics has a one year low of $23.05 and a one year high of $56.05. The firm has a fifty day moving average of $34.27 and a two-hundred day moving average of $36.89.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.58) by $0.06. During the same quarter in the previous year, the company posted ($1.20) earnings per share. On average, analysts forecast that Vera Therapeutics will post -6.44 earnings per share for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 18,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $37.00, for a total value of $684,500.00. Following the sale, the chief executive officer directly owned 235,244 shares in the company, valued at $8,704,028. The trade was a 7.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 101,750 shares of company stock valued at $3,992,300. 15.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eversept Partners LP grew its position in shares of Vera Therapeutics by 9.4% in the fourth quarter. Eversept Partners LP now owns 3,072,304 shares of the company’s stock valued at $155,581,000 after purchasing an additional 264,468 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Vera Therapeutics by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 1,444,925 shares of the company’s stock worth $73,185,000 after purchasing an additional 123,350 shares during the last quarter. Armistice Capital LLC raised its position in shares of Vera Therapeutics by 22.0% during the 4th quarter. Armistice Capital LLC now owns 653,796 shares of the company’s stock worth $33,108,000 after purchasing an additional 117,796 shares during the last quarter. First Turn Management LLC lifted its stake in Vera Therapeutics by 69.7% in the 4th quarter. First Turn Management LLC now owns 601,774 shares of the company’s stock valued at $30,474,000 after buying an additional 247,245 shares in the last quarter. Finally, Braidwell LP lifted its stake in Vera Therapeutics by 7.8% in the 2nd quarter. Braidwell LP now owns 564,724 shares of the company’s stock valued at $24,232,000 after buying an additional 40,900 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s research is centered on therapies designed to address the underlying causes of autoimmune conditions rather than primarily managing their symptoms.

Vera’s leading product candidate is atacicept, an investigational biologic designed to inhibit two proteins involved in the survival and activity of antibody-producing immune cells, B-cell activating factor and a proliferation-inducing ligand.