Vera Therapeutics (NASDAQ:VERA) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Vera Therapeutics (NASDAQ:VERA) announced its quarterly earnings results on Wednesday. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.11, Zacks reports.

Vera Therapeutics Stock Up 2.5 %

Shares of VERA opened at $27.77 on Thursday. The stock has a market capitalization of $1.76 billion, a PE ratio of -10.64 and a beta of 1.11. Vera Therapeutics has a 1 year low of $25.99 and a 1 year high of $51.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The company’s 50-day simple moving average is $36.26 and its 200-day simple moving average is $40.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wedbush boosted their price target on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 target price on the stock. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Wolfe Research began coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vera Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $65.44.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total transaction of $753,725.00. Following the sale, the chief executive officer now owns 85,942 shares of the company’s stock, valued at approximately $3,701,521.94. This represents a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 52,500 shares of company stock valued at $2,305,625. 21.70% of the stock is currently owned by corporate insiders.

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.