Vera Therapeutics (NASDAQ:VERA) Rating Increased to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Vera Therapeutics (NASDAQ:VERA) to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an overweight rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald reissued an overweight rating and issued a $107.00 price target on shares of Vera Therapeutics in a research report on Monday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $51.75.

Vera Therapeutics Stock Up 4.1 %

Vera Therapeutics stock opened at $41.99 on Monday. The stock has a market cap of $2.30 billion, a PE ratio of -20.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The stock’s fifty day moving average is $37.26 and its two-hundred day moving average is $39.09. Vera Therapeutics has a 1-year low of $9.24 and a 1-year high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, sell-side analysts expect that Vera Therapeutics will post -2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $11,548,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado purchased a new position in Vera Therapeutics in the 2nd quarter valued at $135,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after acquiring an additional 688 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vera Therapeutics during the second quarter worth about $163,000. Cetera Advisors LLC purchased a new position in Vera Therapeutics during the first quarter worth about $235,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Vera Therapeutics in the first quarter valued at about $248,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.