Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $64.00 at Guggenheim

Vera Therapeutics (NASDAQ:VERA) had its price target lifted by equities research analysts at Guggenheim from $56.00 to $64.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 36.49% from the company’s previous close.

A number of other research analysts have also recently commented on VERA. JPMorgan Chase & Co. upped their price target on Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Scotiabank started coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Finally, Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Vera Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $53.56.

Vera Therapeutics Stock Performance

Shares of VERA stock traded up $5.80 during trading on Monday, hitting $46.89. The company’s stock had a trading volume of 1,494,355 shares, compared to its average volume of 882,947. The business has a fifty day moving average of $40.18 and a 200-day moving average of $38.94. The company has a market cap of $2.57 billion, a PE ratio of -21.24 and a beta of 1.00. Vera Therapeutics has a 52 week low of $9.68 and a 52 week high of $50.78. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, research analysts anticipate that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 19,375 shares of Vera Therapeutics stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $40.39, for a total transaction of $782,556.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $12,438,989.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Beth C. Seidenberg sold 1,177 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the completion of the transaction, the director now owns 160,376 shares in the company, valued at $6,737,395.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marshall Fordyce sold 19,375 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $40.39, for a total value of $782,556.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $12,438,989.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,398 shares of company stock valued at $3,655,713 in the last quarter. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Vera Therapeutics by 64.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,545 shares of the company’s stock valued at $466,000 after acquiring an additional 4,118 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 in the last quarter. Eastern Bank purchased a new position in Vera Therapeutics in the 3rd quarter worth approximately $2,477,000. Handelsbanken Fonder AB lifted its position in Vera Therapeutics by 19.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock valued at $610,000 after acquiring an additional 2,200 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Vera Therapeutics by 117.5% during the 3rd quarter. SG Americas Securities LLC now owns 9,354 shares of the company’s stock valued at $413,000 after purchasing an additional 5,053 shares during the last quarter. Hedge funds and other 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.