Verve Therapeutics (NASDAQ:VERV) Announces Quarterly Earnings Results

Verve Therapeutics (NASDAQ:VERV) announced its quarterly earnings data on Tuesday. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09, Briefing.com reports. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The company had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. During the same period in the prior year, the firm posted ($0.72) EPS. The company’s quarterly revenue was up 120.2% compared to the same quarter last year.

Verve Therapeutics Stock Up 1.3 %

VERV traded up $0.08 during trading on Wednesday, reaching $6.46. The stock had a trading volume of 713,245 shares, compared to its average volume of 1,302,882. Verve Therapeutics has a 1-year low of $4.30 and a 1-year high of $20.12. The stock has a 50 day moving average of $5.47 and a two-hundred day moving average of $5.69. The firm has a market capitalization of $546.65 million, a price-to-earnings ratio of -2.48 and a beta of 1.75.

Analysts Set New Price Targets

VERV has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday. Canaccord Genuity Group upped their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright lowered their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Verve Therapeutics currently has an average rating of “Buy” and an average target price of $25.75.

About Verve Therapeutics

Verve Therapeutics, Inc, a clinical stage genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases in the United States. The company's lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver; and VERVE-102, a product candidate that targets the PCSK9 gene for the treatment of HeFH.