Vera Therapeutics (NASDAQ:VERA) Issues Earnings Results

Vera Therapeutics (NASDAQ:VERA) released its quarterly earnings results on Wednesday. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11, Zacks reports.

Vera Therapeutics Stock Performance

Shares of VERA stock traded up $0.61 on Wednesday, reaching $27.71. The stock had a trading volume of 324,634 shares, compared to its average volume of 904,662. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.61 and a beta of 1.11. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $36.53 and its two-hundred day moving average is $40.52. Vera Therapeutics has a 12 month low of $25.99 and a 12 month high of $51.61.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 directly owns 143,603 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 52,500 shares of company stock valued at $2,305,625. 21.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VERA. Wells Fargo & Company assumed coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price for the company. The Goldman Sachs Group began coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target on the stock. Wolfe Research assumed coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target on the stock. Wedbush raised their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One equities research 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 data from MarketBeat, the company has an average rating of “Buy” and an average target price of $65.44.

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.