Vera Therapeutics (NASDAQ:VERA) Earns Outperform Rating from Analysts at Wolfe Research

Investment analysts at Wolfe Research assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research note issued on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $49.00 price target on the stock. Wolfe Research’s target price points to a potential upside of 34.10% from the company’s previous close.

VERA has been the subject of a number of other reports. The Goldman Sachs Group started coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 target price for the company. Guggenheim raised their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Wedbush boosted their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vera Therapeutics has a consensus rating of “Buy” and an average price target of $65.44.

Vera Therapeutics Trading Down 2.0 %

NASDAQ:VERA opened at $36.54 on Tuesday. The firm has a market capitalization of $2.31 billion, a P/E ratio of -14.00 and a beta of 1.15. The business has a 50 day simple moving average of $41.40 and a 200 day simple moving average of $40.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics has a 12-month low of $31.77 and a 12-month high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Equities research analysts predict that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $46.94, for a total value of $821,450.00. Following the completion of the sale, the chief executive officer now owns 85,942 shares of the company’s stock, valued at $4,034,117.48. This trade represents a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 52,500 shares of company stock valued at $2,305,625 over the last ninety days. Corporate insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds have recently bought and sold shares of the business. Jennison Associates LLC grew its stake in Vera Therapeutics by 82.0% during the 4th quarter. Jennison Associates LLC now owns 813,861 shares of the company’s stock valued at $34,418,000 after acquiring an additional 366,763 shares in the last quarter. Holocene Advisors LP boosted its holdings in shares of Vera Therapeutics by 8.8% during the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock worth $86,390,000 after purchasing an additional 158,451 shares during the period. Lord Abbett & CO. LLC grew its position in Vera Therapeutics by 41.1% during the third quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock valued at $18,830,000 after purchasing an additional 124,197 shares in the last quarter. First Turn Management LLC grew its position in Vera Therapeutics by 53.3% during the third quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock valued at $14,431,000 after purchasing an additional 113,550 shares in the last quarter. Finally, Pier Capital LLC acquired a new position in Vera Therapeutics in the 3rd quarter valued at approximately $4,573,000. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.