Vera Therapeutics (NASDAQ:VERA) Given New $66.00 Price Target at Bank of America

Vera Therapeutics (NASDAQ:VERA) had its price objective boosted by Bank of America from $48.00 to $66.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on VERA. The Goldman Sachs Group increased their target price on shares of Vera Therapeutics from $55.00 to $95.00 and gave the company a “buy” rating in a research report on Friday. Cowen reaffirmed a “buy” rating on shares of Vera Therapeutics in a report on Friday, December 5th. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Vera Therapeutics in a research report on Friday, November 28th. Evercore ISI upped their target price on Vera Therapeutics from $75.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vera Therapeutics in a research note on Wednesday, November 26th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Vera Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $74.83.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA opened at $51.22 on Friday. The stock’s 50-day simple moving average is $33.89 and its 200-day simple moving average is $27.30. The firm has a market capitalization of $3.27 billion, a PE ratio of -12.84 and a beta of 1.21. Vera Therapeutics has a fifty-two week low of $18.53 and a fifty-two week high of $51.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.21 and a current ratio of 12.21.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.06). During the same quarter in the prior year, the firm posted ($0.85) EPS. As a group, equities research analysts forecast that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, SVP Joseph R. Young sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $29.06, for a total transaction of $435,900.00. Following the completion of the sale, the senior vice president directly owned 47,839 shares of the company’s stock, valued at approximately $1,390,201.34. This trade represents a 23.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick G. Enright bought 5,882 shares of the stock in a transaction on Thursday, December 11th. The stock was bought at an average price of $42.50 per share, for a total transaction of $249,985.00. Following the completion of the purchase, the director directly owned 5,882 shares in the company, valued at approximately $249,985. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 16.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of VERA. Invesco Ltd. raised its position in Vera Therapeutics by 24.3% during the 1st quarter. Invesco Ltd. now owns 27,297 shares of the company’s stock worth $656,000 after buying an additional 5,343 shares during the last quarter. Nuveen LLC acquired a new position in shares of Vera Therapeutics during the first quarter worth about $3,768,000. Russell Investments Group Ltd. raised its holdings in Vera Therapeutics by 505.1% during the first quarter. Russell Investments Group Ltd. now owns 152,918 shares of the company’s stock worth $3,673,000 after purchasing an additional 127,646 shares in the last quarter. Algert Global LLC lifted its position in Vera Therapeutics by 81.6% in the first quarter. Algert Global LLC now owns 70,010 shares of the company’s stock valued at $1,682,000 after purchasing an additional 31,460 shares during the period. Finally, Wellington Management Group LLP lifted its position in Vera Therapeutics by 5.8% in the first quarter. Wellington Management Group LLP now owns 19,061 shares of the company’s stock valued at $458,000 after purchasing an additional 1,043 shares during the period. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Company Profile

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body’s own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.