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

Verve Therapeutics (NASDAQ:VERV) posted its quarterly earnings data on Tuesday. The company reported ($0.59) earnings per share 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 35.20% and a negative net margin of 933.08%. The company had revenue of $6.87 million during the quarter, compared to analysts’ expectations of $2.75 million. During the same period in the prior year, the business earned ($0.72) earnings per share. Verve Therapeutics’s revenue for the quarter was up 120.2% compared to the same quarter last year.

Verve Therapeutics Stock Performance

Shares of NASDAQ VERV traded down $0.05 during midday trading on Thursday, reaching $6.36. 1,318,199 shares of the company traded hands, compared to its average volume of 1,306,672. The firm has a market cap of $538.22 million, a PE ratio of -2.61 and a beta of 1.75. The stock’s 50-day simple moving average is $5.48 and its 200-day simple moving average is $5.69. Verve Therapeutics has a 12 month low of $4.30 and a 12 month high of $19.34.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VERV. HC Wainwright reduced their target price on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group raised their target price on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada reduced their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $25.75.

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.