Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $73.00

Vera Therapeutics (NASDAQ:VERA) had its price target hoisted by TD Cowen from $60.00 to $73.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently issued reports on VERA. Bank of America initiated coverage on Vera Therapeutics in a report on Thursday, October 16th. They set a “buy” rating and a $48.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a research note on Wednesday, October 8th. Pivotal Research set a $73.00 price objective on shares of Vera Therapeutics in a report on Friday. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Vera Therapeutics in a report on Friday, November 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vera Therapeutics in a research report on Wednesday, November 26th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.18.

Vera Therapeutics Trading Up 5.4%

Shares of NASDAQ:VERA opened at $44.90 on Friday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -11.25 and a beta of 1.21. Vera Therapeutics has a 12 month low of $18.53 and a 12 month high of $49.77. The company’s fifty day simple moving average is $30.37 and its 200 day simple moving average is $25.53. The company has a quick ratio of 12.21, a current ratio of 12.21 and a debt-to-equity ratio of 0.19.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Wednesday, November 5th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.06). During the same period in the previous year, the business earned ($0.85) EPS. As a group, research analysts forecast that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Joseph R. Young sold 15,000 shares of Vera Therapeutics stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $29.06, for a total value of $435,900.00. Following the completion of the transaction, the senior vice president owned 47,839 shares of the company’s stock, valued at $1,390,201.34. This trade represents a 23.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 16.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vera Therapeutics

Hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP lifted its holdings in Vera Therapeutics by 132.6% during the 1st quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $60,050,000 after purchasing an additional 1,425,000 shares during the last quarter. Integral Health Asset Management LLC increased its position in Vera Therapeutics by 47.8% during the 3rd quarter. Integral Health Asset Management LLC now owns 1,700,000 shares of the company’s stock worth $49,402,000 after buying an additional 550,000 shares during the period. Braidwell LP acquired a new stake in shares of Vera Therapeutics during the third quarter worth $13,738,000. Capricorn Fund Managers Ltd bought a new stake in shares of Vera Therapeutics in the third quarter valued at about $13,097,000. Finally, Armistice Capital LLC grew its stake in shares of Vera Therapeutics by 294.1% in the third quarter. Armistice Capital LLC now owns 536,000 shares of the company’s stock valued at $15,576,000 after acquiring an additional 400,000 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.