Verve Therapeutics (NASDAQ:VERV) Releases Earnings Results, Beats Expectations 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, topping the consensus estimate of ($0.70) by $0.11, Briefing.com reports. The company had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $2.11 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The company’s revenue for the quarter was up 305.6% on a year-over-year basis.

Verve Therapeutics Trading Up 4.8 %

NASDAQ:VERV traded up $0.29 during mid-day trading on Thursday, hitting $6.37. The stock had a trading volume of 1,442,316 shares, compared to its average volume of 1,219,774. Verve Therapeutics has a twelve month low of $5.84 and a twelve month high of $21.42. The company has a market capitalization of $534.57 million, a PE ratio of -2.03 and a beta of 1.94. The stock has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $11.89.

Analysts Set New Price Targets

VERV has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Verve Therapeutics in a research report on Thursday. Stifel Nicolaus cut their price target on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Verve Therapeutics in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Verve Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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.