Vera Therapeutics (NASDAQ:VERA) Lifted to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Vera Therapeutics (NASDAQ:VERA) to a strong-buy rating in a report published on Monday, Zacks.com reports.

VERA has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an overweight rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald reissued an overweight rating and set a $107.00 target price on shares of Vera Therapeutics in a research report on Monday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $51.75.

Vera Therapeutics Trading Up 0.8 %

NASDAQ VERA opened at $40.33 on Monday. The company has a market capitalization of $2.21 billion, a PE ratio of -19.67 and a beta of 0.99. Vera Therapeutics has a 1-year low of $9.24 and a 1-year 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. The firm’s fifty day simple moving average is $37.26 and its 200-day simple moving average is $39.09.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data 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, sell-side analysts anticipate that Vera Therapeutics will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado acquired a new stake in shares of Vera Therapeutics in the second quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vera Therapeutics in the 2nd quarter valued at $163,000. Ameritas Investment Partners Inc. raised its position in shares of Vera Therapeutics by 20.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after acquiring an additional 688 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Vera Therapeutics during the first quarter valued at $235,000. Finally, Quarry LP bought a new position in Vera Therapeutics in the second quarter valued at about $235,000. Institutional investors and hedge funds 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.