Verve Therapeutics (NASDAQ:VERV) Releases Earnings Results

Posted by Samantha Reynolds on Nov 8th, 2024

Verve Therapeutics (NASDAQ:VERV – Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11, Briefing.com reports. The business had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Verve Therapeutics’s revenue for the quarter was up 120.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.72) EPS.

Verve Therapeutics Stock Down 0.8 %

VERV stock opened at $6.36 on Friday. Verve Therapeutics has a 12 month low of $4.30 and a 12 month high of $19.34. The firm has a market cap of $538.44 million, a P/E ratio of -2.59 and a beta of 1.75. The company’s 50-day moving average price is $5.48 and its two-hundred day moving average price is $5.70.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VERV shares. Royal Bank of Canada decreased their price target on shares of 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 boosted their price target 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, HC Wainwright dropped their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $25.75.

Read Our Latest Research Report on Verve Therapeutics

Verve Therapeutics Company Profile

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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.