HC Wainwright Forecasts Strong Price Appreciation for Verve Therapeutics (NASDAQ:VERV) Stock

Verve Therapeutics (NASDAQ:VERV) had its price target hoisted by investment analysts at HC Wainwright from $14.00 to $15.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 136.97% from the company’s current price.

Several other equities analysts have also issued reports on VERV. Royal Bank of Canada lowered their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

Verve Therapeutics Trading Up 2.1 %

Shares of NASDAQ:VERV opened at $6.33 on Friday. The stock’s 50-day moving average price is $6.90 and its 200-day moving average price is $6.01. Verve Therapeutics has a 12-month low of $4.30 and a 12-month high of $19.34. The stock has a market capitalization of $535.92 million, a P/E ratio of -2.57 and a beta of 1.74.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.14. The company had revenue of $13.08 million during the quarter, compared to analyst estimates of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. As a group, research analysts predict that Verve Therapeutics will post -2.49 EPS for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Several hedge funds have recently added to or reduced their stakes in VERV. Creative Planning bought a new position in Verve Therapeutics in the 3rd quarter worth about $50,000. PFG Investments LLC bought a new position in Verve Therapeutics in the 3rd quarter worth about $53,000. China Universal Asset Management Co. Ltd. grew its stake in Verve Therapeutics by 65.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,276 shares of the company’s stock worth $79,000 after acquiring an additional 6,412 shares in the last quarter. US Bancorp DE grew its stake in Verve Therapeutics by 1,631.7% in the 3rd quarter. US Bancorp DE now owns 18,806 shares of the company’s stock worth $91,000 after acquiring an additional 17,720 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Verve Therapeutics by 78.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 53,524 shares of the company’s stock worth $259,000 after acquiring an additional 23,565 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors.

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.