Guggenheim Raises Vera Therapeutics (NASDAQ:VERA) Price Target to $61.00

Vera Therapeutics (NASDAQ:VERA) had its price objective boosted by stock analysts at Guggenheim from $59.00 to $61.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 103.81% from the company’s current price.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company started coverage on Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 target price on the stock. Wedbush upped their target price on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wolfe Research initiated coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group began coverage on Vera Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. 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 MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $65.11.

Vera Therapeutics Stock Up 1.8 %

NASDAQ:VERA opened at $29.93 on Thursday. Vera Therapeutics has a twelve month low of $25.99 and a twelve month high of $51.61. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -11.47 and a beta of 1.11. The stock has a fifty day simple moving average of $35.75 and a 200-day simple moving average of $40.31. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.11. Analysts anticipate that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the transaction, the chief executive officer now owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 52,500 shares of company stock worth $2,305,625. 21.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds have recently bought and sold shares of VERA. Avoro Capital Advisors LLC raised its position in shares of Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock worth $237,247,000 after acquiring an additional 1,300,410 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Vera Therapeutics by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company’s stock valued at $185,107,000 after purchasing an additional 437,940 shares during the last quarter. FMR LLC lifted its holdings in shares of Vera Therapeutics by 9.6% in the 4th quarter. FMR LLC now owns 3,053,126 shares of the company’s stock valued at $129,117,000 after buying an additional 267,842 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock valued at $124,737,000 after buying an additional 369,387 shares during the period. Finally, Holocene Advisors LP lifted its holdings in shares of Vera Therapeutics by 8.8% in the 3rd quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock valued at $86,390,000 after buying an additional 158,451 shares during the period. 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.