Verve Therapeutics (NASDAQ:VERV) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Verve Therapeutics (NASDAQ:VERV) announced its quarterly earnings results on Thursday. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.14, Zacks reports. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The firm had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $3.94 million.

Verve Therapeutics Stock Performance

NASDAQ:VERV opened at $6.20 on Friday. Verve Therapeutics has a fifty-two week low of $4.30 and a fifty-two week high of $19.34. The company has a 50 day moving average price of $6.89 and a 200 day moving average price of $5.99. The stock has a market capitalization of $524.92 million, a P/E ratio of -2.52 and a beta of 1.74.

Analysts Set New Price Targets

A number of brokerages have commented on VERV. Canaccord Genuity Group lifted their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright reduced their price target on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Finally, Royal Bank of Canada cut their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus 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.