JPMorgan Chase & Co. Boosts Vera Therapeutics (NASDAQ:VERA) Price Target to $72.00

Vera Therapeutics (NASDAQ:VERA) had its price target lifted by JPMorgan Chase & Co. from $62.00 to $72.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 87.50% from the company’s previous close.

Separately, Raymond James raised their price target on Vera Therapeutics from $57.00 to $68.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Vera Therapeutics presently has an average rating of “Buy” and an average target price of $43.86.

Vera Therapeutics Stock Performance

NASDAQ VERA opened at $38.40 on Tuesday. The business has a 50-day moving average price of $36.71 and a 200-day moving average price of $39.69. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -18.73 and a beta of 0.99. Vera Therapeutics has a twelve month low of $9.24 and a twelve month high of $50.78. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, equities research analysts predict that Vera Therapeutics will post -2.59 EPS for the current fiscal year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 14,471 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total value of $575,366.96. Following the sale, the chief executive officer now directly owns 322,667 shares of the company’s stock, valued at approximately $12,829,239.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado bought a new stake in shares of Vera Therapeutics in the 2nd quarter valued at about $135,000. Ameritas Investment Partners Inc. raised its stake in Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after buying an additional 688 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vera Therapeutics during the second quarter worth $163,000. Cetera Advisors LLC bought a new stake in Vera Therapeutics during the 1st quarter valued at $235,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Vera Therapeutics in the 1st quarter valued at $248,000. 99.21% of the stock is currently owned by institutional investors.

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.