Vera Therapeutics (NASDAQ:VERA) Stock Gets Price Target Trim from HC Wainwright

Key Points

• HC Wainwright cut its price target on Vera Therapeutics from $90 to $75 but maintained a Buy rating; the new target implies 148.84% upside from the prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports a consensus Moderate Buy rating and an average price target of $75.79.
• Vera reported quarterly EPS of -$1.30, beating the -$1.62 estimate, and revenue of $10.28 million, above analysts’ $3.42 million forecast.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) had its price target dropped by stock analysts at HC Wainwright from $90.00 to $75.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 148.84% from the company's previous close.

Several other equities research analysts also recently commented on the stock. TD Cowen restated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, September 15th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Vera Therapeutics in a research report on Friday, October 23rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Vera Therapeutics in a report on Thursday, October 15th. Raymond James Financial reissued a "strong-buy" rating on shares of Vera Therapeutics in a report on Monday, October 26th. Finally, JPMorgan Chase & Co. raised their target price on Vera Therapeutics from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Vera Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.79.

Vera Therapeutics Price Performance

Vera Therapeutics stock opened at $30.14 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.92 and a quick ratio of 10.92. The company has a market capitalization of $2.17 billion, a PE ratio of -5.14 and a beta of 1.07. Vera Therapeutics has a one year low of $23.05 and a one year high of $56.05. The business has a 50 day simple moving average of $31.70 and a 200 day simple moving average of $36.75.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($1.30) EPS for the quarter, beating the consensus estimate of ($1.62) by $0.32. The company had revenue of $10.28 million during the quarter, compared to analyst estimates of $3.42 million. On average, sell-side analysts forecast that Vera Therapeutics will post -6.45 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 18,500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $37.00, for a total transaction of $684,500.00. Following the sale, the chief executive officer directly owned 235,244 shares of the company's stock, 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. acquired a new position in Vera Therapeutics during the 3rd quarter valued at about $32,000. Sterling Capital Management LLC grew its position in shares of Vera Therapeutics by 841.5% during the 3rd quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock worth $68,000 after buying an additional 1,885 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of Vera Therapeutics during the 3rd quarter worth approximately $74,000. Nykredit A S bought a new stake in shares of Vera Therapeutics during the second quarter worth approximately $97,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Vera Therapeutics during the third quarter worth approximately $119,000. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immunological diseases. The company's research is centered on therapies that target the underlying causes of autoimmune conditions rather than primarily addressing their symptoms.

Vera's lead product candidate is atacicept, a biologic designed to inhibit the B-cell survival factors BLyS and APRIL. The company has been evaluating atacicept in IgA nephropathy, an autoimmune kidney disease that can lead to progressive loss of kidney function, and has also investigated its potential in other immune-mediated diseases.

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