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

Vera Therapeutics (NASDAQ:VERA) had its price objective hoisted by Guggenheim from $59.00 to $61.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

VERA has been the subject of a number of other reports. Wolfe Research assumed coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective for the company. Wedbush upped their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group assumed coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price for the company. JPMorgan Chase & Co. boosted their target price 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, Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Vera Therapeutics has a consensus rating of “Buy” and a consensus target price of $65.11.

Vera Therapeutics Trading Up 5.9 %

Shares of NASDAQ:VERA opened at $29.41 on Thursday. The stock has a market capitalization of $1.86 billion, a PE ratio of -11.27 and a beta of 1.11. Vera Therapeutics has a 1 year low of $25.99 and a 1 year high of $51.61. The firm has a fifty day moving average price of $36.00 and a 200 day moving average price of $40.35. 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 issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. Analysts expect that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Activity

In other news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total transaction 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 represents a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 52,500 shares of company stock valued at $2,305,625. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 350 shares during the last quarter. Huntington National Bank bought a new stake in Vera Therapeutics in the fourth quarter valued at about $26,000. Summit Investment Advisors Inc. increased its stake in Vera Therapeutics by 16.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after acquiring an additional 639 shares during the period. AlphaQuest LLC bought a new stake in Vera Therapeutics in the fourth quarter valued at about $34,000. Finally, Alliancebernstein L.P. increased its stake in Vera Therapeutics by 2.0% in the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company’s stock valued at $1,706,000 after acquiring an additional 800 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.