Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $65.00 Consensus Target Price from Brokerages

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) has been assigned a consensus rating of "Buy" from the ten research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $65.00.

VERA has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and issued a $85.00 target price (up previously from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. Wedbush decreased their target price 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. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Cantor Fitzgerald decreased their price objective on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Scotiabank restated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd.

Insider Buying and Selling at Vera Therapeutics

In related news, Director Patrick G. Enright bought 40,607 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were purchased at an average price of $22.35 per share, with a total value of $907,566.45. Following the purchase, the director owned 3,596,593 shares of the company's stock, valued at approximately $80,383,853.55. This trade represents a 1.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Huntington National Bank purchased a new position in shares of Vera Therapeutics during the fourth quarter valued at approximately $26,000. AlphaQuest LLC purchased a new position in shares of Vera Therapeutics during the fourth quarter valued at approximately $34,000. GF Fund Management CO. LTD. purchased a new position in shares of Vera Therapeutics during the fourth quarter valued at approximately $56,000. Quarry LP increased its holdings in Vera Therapeutics by 25.0% during the first quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $60,000 after buying an additional 500 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in Vera Therapeutics during the second quarter valued at approximately $102,000. 99.21% of the stock is owned by hedge funds and other institutional investors.

Vera Therapeutics Price Performance

Shares of Vera Therapeutics stock traded down $0.58 on Tuesday, hitting $23.20. 1,179,467 shares of the company traded hands, compared to its average volume of 998,219. The firm's 50-day simple moving average is $22.68 and its 200 day simple moving average is $27.21. The company has a current ratio of 27.68, a quick ratio of 27.68 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.48 billion, a P/E ratio of -7.73 and a beta of 1.19. Vera Therapeutics has a 12-month low of $18.53 and a 12-month high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same period in the prior year, the firm posted ($0.56) EPS. Analysts expect that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

About Vera Therapeutics

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.