Vera Therapeutics (NASDAQ:VERA) Price Target Increased to $65.00 by Analysts at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERAFree Report) had its target price hoisted by JPMorgan Chase & Co. from $60.00 to $65.00 in a report issued on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Raymond James raised their target price on Vera Therapeutics from $57.00 to $68.00 and gave the stock a strong-buy rating in a research note on Friday, May 10th. Guggenheim reissued a buy rating and set a $56.00 target price on shares of Vera Therapeutics in a research note on Friday, April 5th. Finally, Wedbush raised their target price on Vera Therapeutics from $21.00 to $34.00 and gave the stock a neutral rating in a research note on Thursday, March 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $42.86.

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Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $37.99 on Friday. Vera Therapeutics has a one year low of $7.64 and a one year high of $50.78. The company has a quick ratio of 28.63, a current ratio of 28.63 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $40.90 and a 200 day moving average price of $32.05.

Vera Therapeutics (NASDAQ:VERAGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.03). On average, analysts forecast that Vera Therapeutics will post -2.32 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other news, SVP Joseph R. Young sold 5,714 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $40.00, for a total transaction of $228,560.00. Following the completion of the transaction, the senior vice president now directly owns 53,171 shares in the company, valued at $2,126,840. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Maha Katabi sold 81,009 shares of Vera Therapeutics stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $44.20, for a total value of $3,580,597.80. Following the completion of the transaction, the director now directly owns 3,547,437 shares in the company, valued at $156,796,715.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joseph R. Young sold 5,714 shares of Vera Therapeutics stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $40.00, for a total value of $228,560.00. Following the completion of the transaction, the senior vice president now owns 53,171 shares of the company’s stock, valued at $2,126,840. The disclosure for this sale can be found here. Insiders sold a total of 526,551 shares of company stock worth $21,533,345 over the last ninety days. Company insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Vera Therapeutics by 9.3% in the third quarter. Vanguard Group Inc. now owns 1,574,390 shares of the company’s stock valued at $21,585,000 after purchasing an additional 134,125 shares during the period. Barclays PLC lifted its holdings in Vera Therapeutics by 964.6% during the 3rd quarter. Barclays PLC now owns 71,703 shares of the company’s stock worth $983,000 after buying an additional 64,968 shares during the last quarter. Swiss National Bank purchased a new stake in Vera Therapeutics during the 3rd quarter worth about $668,000. Rafferty Asset Management LLC purchased a new stake in Vera Therapeutics during the 3rd quarter worth about $1,870,000. Finally, SG Americas Securities LLC purchased a new stake in Vera Therapeutics during the 4th quarter worth about $119,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Company Profile

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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.

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Analyst Recommendations for Vera Therapeutics (NASDAQ:VERA)

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