Verve Therapeutics (NASDAQ:VERV) Issues Quarterly Earnings Results

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

Verve Therapeutics Price Performance

VERV traded up $0.08 during mid-day trading on Wednesday, hitting $6.46. The stock had a trading volume of 713,245 shares, compared to its average volume of 1,302,882. The stock’s fifty day simple moving average is $5.47 and its 200-day simple moving average is $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. Verve Therapeutics has a 1-year low of $4.30 and a 1-year high of $20.12.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday. Canaccord Genuity Group increased their target price on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright decreased their price target on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Company Profile

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.