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

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

Verve Therapeutics Stock Up 0.5 %

Shares of NASDAQ:VERV traded up $0.03 during midday trading on Wednesday, reaching $6.41. The company’s stock had a trading volume of 933,542 shares, compared to its average volume of 1,304,089. The firm has a 50 day moving average of $5.47 and a 200-day moving average of $5.69. The firm has a market capitalization of $542.41 million, a P/E ratio of -2.48 and a beta of 1.75. Verve Therapeutics has a 12-month low of $4.30 and a 12-month high of $20.12.

Wall Street Analysts Forecast Growth

VERV has been the topic of several recent research reports. Royal Bank of Canada reduced their price objective on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday. 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. Finally, HC Wainwright lowered their price target on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Verve Therapeutics currently has a consensus rating of “Buy” and an average 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.