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

Wolfe Research began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $49.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on the company. 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 objective for the company. Scotiabank began coverage on Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. Wells Fargo & Company began coverage on Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price for the company. Guggenheim increased their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $65.44.

Vera Therapeutics Price Performance

VERA opened at $37.18 on Tuesday. The stock has a 50-day moving average price of $40.76 and a 200-day moving average price of $40.93. Vera Therapeutics has a 12-month low of $31.77 and a 12-month high of $51.61. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.35 billion, a P/E ratio of -14.25 and a beta of 1.11.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Equities analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares of the company’s stock, valued at $5,993,989.22. This represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 52,500 shares of company stock valued at $2,305,625 in the last 90 days. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Vera Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after purchasing an additional 350 shares during the last quarter. KBC Group NV raised its position in Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after purchasing an additional 1,387 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Vera Therapeutics in the 3rd quarter worth approximately $332,000. SG Americas Securities LLC raised its position in shares of Vera Therapeutics by 117.5% in the 3rd quarter. SG Americas Securities LLC now owns 9,354 shares of the company’s stock worth $413,000 after acquiring an additional 5,053 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Vera Therapeutics by 109.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock worth $416,000 after acquiring an additional 4,914 shares in the last quarter. Institutional investors 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.