Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $83.00

Vera Therapeutics (NASDAQ:VERA) had its price objective raised by JPMorgan Chase & Co. from $76.00 to $83.00 in a research note released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Guggenheim boosted their target price on Vera Therapeutics from $56.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. The Goldman Sachs Group reissued a “buy” rating and set a $90.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, June 2nd. Raymond James Financial restated a “strong-buy” rating and issued a $84.00 price objective on shares of Vera Therapeutics in a report on Tuesday, August 11th. HC Wainwright cut their target price on shares of Vera Therapeutics from $125.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $34.00 target price on shares of Vera Therapeutics in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.15.

Vera Therapeutics Stock Performance

Shares of NASDAQ:VERA opened at $33.60 on Tuesday. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $35.23 and a 200-day moving average price of $37.19. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -5.73 and a beta of 0.96. Vera Therapeutics has a 12 month low of $22.72 and a 12 month high of $56.05.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Monday, August 10th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.58) by $0.06. During the same period in the prior year, the firm earned ($1.20) earnings per share. As a group, equities analysts anticipate that Vera Therapeutics will post -6.45 EPS for the current year.

Insider Buying and Selling at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 18,500 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $35.12, for a total value of $649,720.00. Following the sale, the chief executive officer directly owned 235,244 shares of the company’s stock, valued at $8,261,769.28. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 83,250 shares of company stock worth $3,307,800 in the last 90 days. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Vera Therapeutics by 49.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,461,976 shares of the company’s stock valued at $276,595,000 after buying an additional 1,795,537 shares in the last quarter. Deerfield Management Company L.P. increased its stake in shares of Vera Therapeutics by 8.8% in the 3rd quarter. Deerfield Management Company L.P. now owns 3,641,157 shares of the company’s stock worth $105,812,000 after acquiring an additional 293,040 shares in the last quarter. Vestal Point Capital LP lifted its position in Vera Therapeutics by 24.0% during the 2nd quarter. Vestal Point Capital LP now owns 3,100,000 shares of the company’s stock valued at $73,036,000 after acquiring an additional 600,000 shares during the period. Eversept Partners LP lifted its position in Vera Therapeutics by 9.4% during the 4th quarter. Eversept Partners LP now owns 3,072,304 shares of the company’s stock valued at $155,581,000 after acquiring an additional 264,468 shares during the period. Finally, State Street Corp boosted its stake in Vera Therapeutics by 14.7% during the fourth quarter. State Street Corp now owns 2,676,600 shares of the company’s stock worth $135,543,000 after acquiring an additional 343,017 shares in the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

About Vera Therapeutics

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.