Verve Therapeutics (NASDAQ:VERV) Releases Earnings Results, Beats Expectations By $0.11 EPS

Verve Therapeutics (NASDAQ:VERV) issued its earnings results on Wednesday. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11, Briefing.com reports. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. The business had revenue of $5.70 million for the quarter, compared to the consensus estimate of $2.11 million. The business’s quarterly revenue was up 305.6% on a year-over-year basis.

Verve Therapeutics Price Performance

Shares of VERV stock traded up $0.27 during trading hours on Thursday, reaching $6.35. The company had a trading volume of 1,108,010 shares, compared to its average volume of 1,215,182. Verve Therapeutics has a 1-year low of $5.84 and a 1-year high of $21.42. The firm has a market cap of $532.89 million, a price-to-earnings ratio of -2.14 and a beta of 1.94. The company has a 50 day moving average of $10.31 and a 200 day moving average of $11.89.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VERV shares. HC Wainwright began coverage on shares of Verve Therapeutics in a research report on Monday, April 8th. They set a “buy” rating and a $15.00 target price on the stock. Stifel Nicolaus cut their target price on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Verve Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

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.