Vera Therapeutics, Inc. (NASDAQ:VERA) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Vera Therapeutics has received an average analyst rating of "Moderate Buy" from ten research firms, with a 12-month target price of $63.00.
• The company reported a loss of ($1.20) EPS for its last quarter, missing analyst expectations of ($0.82).
• Insider purchases, notably by Director Patrick G. Enright, have seen ownership increase by 1.14%, indicating confidence in the company despite current market fluctuations.

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) have earned an average rating of "Moderate Buy" from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $63.00.

Several brokerages recently commented on VERA. Wedbush cut their price objective on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Cantor Fitzgerald decreased their target price on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th.

Insider Activity

In related news, Director Patrick G. Enright acquired 40,607 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were acquired at an average price of $22.35 per share, with a total value of $907,566.45. Following the completion of the transaction, the director owned 3,596,593 shares of the company's stock, valued at $80,383,853.55. The trade was a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.30% of the company's stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERA. JPMorgan Chase & Co. boosted its position in Vera Therapeutics by 71.6% during the fourth quarter. JPMorgan Chase & Co. now owns 221,485 shares of the company's stock worth $9,367,000 after purchasing an additional 92,390 shares in the last quarter. Norges Bank purchased a new position in Vera Therapeutics during the fourth quarter worth about $2,055,000. Alliancebernstein L.P. increased its stake in Vera Therapeutics by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after acquiring an additional 800 shares during the last quarter. Geode Capital Management LLC increased its stake in Vera Therapeutics by 14.8% during the fourth quarter. Geode Capital Management LLC now owns 1,153,325 shares of the company's stock worth $48,787,000 after acquiring an additional 148,660 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Vera Therapeutics by 229.7% during the fourth quarter. Wells Fargo & Company MN now owns 39,576 shares of the company's stock worth $1,674,000 after acquiring an additional 27,573 shares during the last quarter. Hedge funds and other institutional investors own 99.21% of the company's stock.

Vera Therapeutics Trading Up 5.8%

Shares of VERA traded up $1.23 during mid-day trading on Friday, reaching $22.37. The company's stock had a trading volume of 749,838 shares, compared to its average volume of 1,286,145. The stock has a market cap of $1.43 billion, a PE ratio of -6.29 and a beta of 1.17. The company has a current ratio of 17.03, a quick ratio of 17.03 and a debt-to-equity ratio of 0.16. Vera Therapeutics has a 52 week low of $18.53 and a 52 week high of $51.61. The company's fifty day moving average price is $22.54 and its two-hundred day moving average price is $24.90.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period in the prior year, the firm earned ($0.62) EPS. On average, analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

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.