Vera Therapeutics (NASDAQ:VERA) Posts Earnings Results, Beats Expectations By $0.11 EPS

Vera Therapeutics (NASDAQ:VERA) released its earnings results on Wednesday. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.11, Zacks reports.

Vera Therapeutics Trading Up 5.9 %

Vera Therapeutics stock opened at $29.41 on Friday. Vera Therapeutics has a 1 year low of $25.99 and a 1 year high of $51.61. The firm’s 50-day moving average is $36.00 and its 200-day moving average is $40.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The company has a market cap of $1.86 billion, a P/E ratio of -11.27 and a beta of 1.11.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $43.07, for a total transaction of $753,725.00. Following the completion of the transaction, the chief executive officer now owns 85,942 shares in the company, valued at $3,701,521.94. The trade was a 16.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 52,500 shares of company stock valued at $2,305,625 in the last quarter. Insiders own 21.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on VERA shares. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. Guggenheim raised their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company started coverage on Vera Therapeutics in a research report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target on the stock. Wedbush upped their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Vera Therapeutics has a consensus rating of “Buy” and a consensus price target of $65.11.

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.