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

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

Verve Therapeutics Stock Performance

NASDAQ:VERV traded up $0.27 on Thursday, hitting $6.35. 1,321,248 shares of the stock were exchanged, compared to its average volume of 1,218,203. Verve Therapeutics has a 52 week low of $5.84 and a 52 week high of $21.42. The company’s 50-day moving average price is $10.31 and its 200 day moving average price is $11.89. The stock has a market capitalization of $532.89 million, a price-to-earnings ratio of -2.14 and a beta of 1.94.

Wall Street Analyst Weigh In

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