Vera Therapeutics (NASDAQ:VERA) Price Target Increased to $72.00 by Analysts at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA) had its target price upped by JPMorgan Chase & Co. from $62.00 to $72.00 in a research note released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Separately, Raymond James lifted their target price on Vera Therapeutics from $57.00 to $68.00 and gave the stock a strong-buy rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Vera Therapeutics has an average rating of Buy and a consensus target price of $51.75.

Vera Therapeutics Stock Down 2.5 %

VERA stock opened at $37.20 on Tuesday. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $36.80 and a two-hundred day moving average price of $39.62. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -18.15 and a beta of 0.99. Vera Therapeutics has a twelve month low of $9.24 and a twelve month high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Analysts anticipate that Vera Therapeutics will post -2.59 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 14,471 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total value of $575,366.96. Following the completion of the sale, the chief executive officer now directly owns 322,667 shares in the company, valued at approximately $12,829,239.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado acquired a new position in Vera Therapeutics in the 2nd quarter valued at $135,000. Ameritas Investment Partners Inc. raised its holdings in Vera Therapeutics by 20.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after acquiring an additional 688 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vera Therapeutics in the 2nd quarter valued at $163,000. Cetera Advisors LLC acquired a new position in shares of Vera Therapeutics during the 1st quarter worth $235,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Vera Therapeutics during the 1st quarter worth $248,000. 99.21% of the stock is owned by institutional investors and hedge funds.

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.