Verve Therapeutics (NASDAQ:VERV) Issues Earnings Results

Verve Therapeutics (NASDAQ:VERV) released its quarterly earnings data on Tuesday. The company reported ($0.59) earnings per share for the quarter, topping 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 analysts’ expectations of $2.75 million. During the same quarter last year, the company earned ($0.72) earnings per share. The firm’s revenue for the quarter was up 120.2% on a year-over-year basis.

Verve Therapeutics Price Performance

Shares of NASDAQ VERV traded up $0.01 during trading on Wednesday, hitting $6.39. 995,119 shares of the company were exchanged, compared to its average volume of 1,304,375. The company has a market cap of $540.72 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. The firm’s fifty day moving average price is $5.47 and its 200 day moving average price is $5.69.

Analysts Set New Price Targets

A number of research firms have weighed in on VERV. HC Wainwright cut their price objective on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday. Canaccord Genuity Group raised their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada cut their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock 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.