Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $63.00 Average Price Target from Brokerages

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.

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $63.00.

A number of equities analysts have weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $85.00 price target (up previously from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Cantor Fitzgerald reduced their target price on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Wedbush reduced their target price on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th.

Vera Therapeutics Trading Up 3.1%

Shares of VERA traded up $0.63 during mid-day trading on Friday, reaching $20.80. The company had a trading volume of 914,155 shares, compared to its average volume of 1,288,039. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -5.82 and a beta of 1.17. The firm has a fifty day simple moving average of $22.74 and a 200-day simple moving average of $24.92. Vera Therapeutics has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. 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 (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38). During the same quarter in the prior year, the business posted ($0.62) EPS. On average, sell-side analysts anticipate that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Patrick G. Enright acquired 209,393 shares of the business's stock in a transaction on Monday, June 23rd. The shares were purchased at an average price of $20.87 per share, for a total transaction of $4,370,031.91. Following the acquisition, the director directly owned 3,569,522 shares of the company's stock, valued at $74,495,924.14. This represents a 6.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VERA. JPMorgan Chase & Co. lifted its holdings in Vera Therapeutics by 71.6% in the 4th quarter. JPMorgan Chase & Co. now owns 221,485 shares of the company's stock worth $9,367,000 after buying an additional 92,390 shares in the last quarter. Norges Bank acquired a new position in Vera Therapeutics in the 4th quarter worth $2,055,000. Alliancebernstein L.P. lifted its holdings in Vera Therapeutics by 2.0% in the 4th quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after buying an additional 800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Vera Therapeutics by 14.8% in the 4th quarter. Geode Capital Management LLC now owns 1,153,325 shares of the company's stock worth $48,787,000 after buying an additional 148,660 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Vera Therapeutics by 229.7% in the 4th quarter. Wells Fargo & Company MN now owns 39,576 shares of the company's stock worth $1,674,000 after purchasing an additional 27,573 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

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.