Verve Therapeutics (NASDAQ:VERV) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

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

Verve Therapeutics Stock Up 0.2 %

NASDAQ VERV traded up $0.01 on Wednesday, hitting $6.39. The stock had a trading volume of 995,119 shares, compared to its average volume of 1,304,375. The company’s 50-day moving average is $5.47 and its two-hundred day moving average is $5.69. The stock 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 one year low of $4.30 and a one year high of $20.12.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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. Canaccord Genuity Group increased their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada decreased their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus 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.