Guggenheim Issues Positive Forecast for Vera Therapeutics (NASDAQ:VERA) Stock Price

Vera Therapeutics (NASDAQ:VERA) had its price target boosted by stock analysts at Guggenheim from $59.00 to $61.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 109.98% from the stock’s previous close.

Several other brokerages also recently issued reports on VERA. Wolfe Research initiated coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 target price for the company. Finally, Wedbush boosted their price target on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One 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. According to data from MarketBeat, Vera Therapeutics currently has a consensus rating of “Buy” and an average target price of $65.11.

Vera Therapeutics Trading Up 4.6 %

Shares of NASDAQ:VERA traded up $1.28 during mid-day trading on Thursday, hitting $29.05. The stock had a trading volume of 84,851 shares, compared to its average volume of 894,502. The company’s 50 day moving average is $36.26 and its 200-day moving average is $40.43. 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 quick ratio of 13.76 and a current ratio of 13.76. The company has a market cap of $1.84 billion, a PE ratio of -11.13 and a beta of 1.11.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. On average, sell-side analysts predict that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Activity

In other 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 52,500 shares of company stock worth $2,305,625. 21.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of large investors have recently added to or reduced their stakes in VERA. Huntington National Bank acquired a new stake in shares of Vera Therapeutics in the fourth quarter worth $26,000. AlphaQuest LLC bought a new position in Vera Therapeutics in the 4th quarter worth $34,000. GF Fund Management CO. LTD. acquired a new position in Vera Therapeutics during the 4th quarter worth $56,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 during the period. Finally, KBC Group NV boosted its holdings in Vera Therapeutics by 127.2% during the fourth 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 during the period. 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.