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

Verve Therapeutics (NASDAQ:VERV) issued its quarterly earnings data on Tuesday. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.11, Briefing.com reports. The firm had revenue of $6.87 million during the quarter, compared to the consensus estimate of $2.75 million. Verve Therapeutics had a negative return on equity of 35.20% and a negative net margin of 933.08%. The company’s quarterly revenue was up 120.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.72) earnings per share.

Verve Therapeutics Price Performance

NASDAQ VERV opened at $6.41 on Thursday. The stock has a market capitalization of $542.41 million, a PE ratio of -2.47 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 business’s 50-day moving average is $5.48 and its 200 day moving average is $5.69.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday. HC Wainwright reduced their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group increased their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Verve Therapeutics has an average rating of “Buy” and a consensus price target 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.