Vera Therapeutics (NASDAQ:VERA) Given New $61.00 Price Target at Guggenheim

Vera Therapeutics (NASDAQ:VERA) had its price objective upped by Guggenheim from $59.00 to $61.00 in a research note published on Thursday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts have also commented on VERA. Wedbush raised their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Wolfe Research initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $65.11.

Vera Therapeutics Price Performance

NASDAQ VERA opened at $29.41 on Thursday. Vera Therapeutics has a 12 month low of $25.99 and a 12 month high of $51.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The firm has a market capitalization of $1.86 billion, a PE ratio of -11.27 and a beta of 1.11. The company’s 50 day simple moving average is $36.00 and its 200 day simple moving average is $40.35.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. As a group, equities research analysts forecast that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total value of $753,725.00. Following the completion of the transaction, the chief executive officer now owns 85,942 shares of the company’s stock, valued at approximately $3,701,521.94. This trade represents a 16.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 52,500 shares of company stock valued at $2,305,625. Company insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VERA. Huntington National Bank acquired a new stake in shares of Vera Therapeutics during the 4th quarter valued at $26,000. AlphaQuest LLC purchased a new position in shares of Vera Therapeutics during the 4th quarter valued at $34,000. GF Fund Management CO. LTD. purchased a new position in shares of Vera Therapeutics during the 4th quarter valued at $56,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Vera Therapeutics by 21.4% during the 3rd 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. Finally, KBC Group NV grew its holdings in shares of Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after acquiring an additional 1,387 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.