Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $38.00 at Wedbush

Vera Therapeutics (NASDAQ:VERA) had its price objective raised by equities researchers at Wedbush from $30.00 to $38.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s price target would indicate a potential downside of 20.08% from the stock’s current price.

A number of other brokerages have also commented on VERA. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Scotiabank initiated coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their target price on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Guggenheim upped their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. One 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 stock. Based on data from MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Buy” and an average target price of $54.33.

Vera Therapeutics Price Performance

Shares of Vera Therapeutics stock traded down $1.49 during trading on Friday, hitting $47.55. 43,840 shares of the company’s stock traded hands, compared to its average volume of 911,983. Vera Therapeutics has a twelve month low of $10.79 and a twelve month high of $50.78. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The company has a market cap of $2.61 billion, a PE ratio of -21.52 and a beta of 1.03. The firm’s fifty day moving average price is $41.33 and its 200 day moving average price is $39.10.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Analysts forecast that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the sale, the director now directly owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Vera Therapeutics news, Director Beth C. Seidenberg sold 15,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the transaction, the director now owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marshall Fordyce sold 14,471 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total transaction of $575,366.96. Following the completion of the transaction, the chief executive officer now owns 322,667 shares in the company, valued at approximately $12,829,239.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,398 shares of company stock valued at $4,376,163 over the last three months. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Several hedge funds have recently bought and sold shares of VERA. Mirae Asset Global Investments Co. Ltd. grew its position in Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after acquiring an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Vera Therapeutics during the second quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vera Therapeutics in the 2nd quarter worth approximately $163,000. Ameritas Investment Partners Inc. grew its holdings in shares of Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after acquiring an additional 688 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in shares of Vera Therapeutics during the 1st quarter valued at about $235,000. Hedge funds and other institutional investors own 99.21% of the company’s stock.

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.