Cantor Fitzgerald Brokers Raise Earnings Estimates for VERV

Verve Therapeutics, Inc. (NASDAQ:VERV) – Investment analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for Verve Therapeutics in a report issued on Monday, November 11th. Cantor Fitzgerald analyst R. Bienkowski now expects that the company will post earnings of ($2.53) per share for the year, up from their previous forecast of ($2.79). The consensus estimate for Verve Therapeutics’ current full-year earnings is ($2.49) per share.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.11. The company had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The firm’s quarterly revenue was up 120.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.72) earnings per share.

A number of other equities analysts also recently weighed in on the stock. HC Wainwright lowered 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, November 6th. Royal Bank of Canada dropped their price objective on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, 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 note on Wednesday, November 6th.

Verve Therapeutics Stock Performance

Shares of NASDAQ VERV opened at $4.79 on Thursday. The company’s 50 day moving average price is $5.45 and its 200-day moving average price is $5.67. Verve Therapeutics has a 52-week low of $4.30 and a 52-week high of $19.34. The company has a market capitalization of $405.54 million, a P/E ratio of -1.95 and a beta of 1.75.

Institutional Investors Weigh In On Verve Therapeutics

A number of hedge funds have recently added to or reduced their stakes in VERV. Susquehanna Fundamental Investments LLC acquired a new stake in Verve Therapeutics in the 1st quarter valued at $191,000. ProShare Advisors LLC raised its holdings in shares of Verve Therapeutics by 31.0% in the 1st quarter. ProShare Advisors LLC now owns 17,696 shares of the company’s stock worth $235,000 after acquiring an additional 4,184 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Verve Therapeutics by 15.7% in the 1st quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock worth $84,080,000 after acquiring an additional 859,382 shares during the last quarter. American International Group Inc. lifted its position in Verve Therapeutics by 25.1% in the 1st quarter. American International Group Inc. now owns 32,468 shares of the company’s stock valued at $431,000 after acquiring an additional 6,517 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Verve Therapeutics by 28.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,366 shares of the company’s stock valued at $337,000 after purchasing an additional 5,600 shares during the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

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.