Verve Therapeutics (VERV – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Whitney Ijem from Canaccord Genuity remains neutral on the stock and has a $29.00 price target.
Whitney Ijem’s Buy rating for Verve Therapeutics is influenced by a variety of factors. First off, the FDA has lifted the clinical hold on the company, allowing it to include U.S. sites in its Phase 1b trial for VERVE-101, a treatment for heterozygous familial hypercholesterolemia. This is a significant development that should positively impact the company’s performance. The company’s ability to resolve this regulatory issue, which has been a concern for investors, is another driving factor for the Buy rating.
Moreover, the company is set to present preliminary data from the ongoing Phase 1b trial at the AHA conference, which Ijem expects to be positive. This, combined with the lifting of the regulatory overhang, sets up a favorable scenario for the company’s performance moving into year-end and 2024. Additionally, VERVE-101 is a one-time administered DNA base editing therapy, an innovative approach that could potentially transform the treatment of hypercholesterolemia. This uniqueness of the treatment further supports Ijem’s Buy rating.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $55.00 price target.
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Verve Therapeutics (VERV) Company Description:
Verve Therapeutics Inc is a genetic medicines company pioneering the care of cardiovascular disease, transforming treatment from chronic management to single-course gene editing medicines. Its initial programs focus on PCSK9 and ANGPTL3, two genes that regulate levels of blood lipids. The company is developing these gene-editing treatments for patients with familial hypercholesterolemia, a genetic disease that causes life-long severely elevated blood cholesterol.
Read More on VERV:
- Verve Therapeutics Announces Clearance of Investigational New Drug Application by the U.S. FDA for VERVE-101 in Patients with Heterozygous Familial Hypercholesterolemia
- William Blair biotech analyst to hold an analyst/industry conference call
- Verve Therapeutics to present Phase 1b data on HeFH candidate
- Verve to Present Interim Data from the heart-1 Phase 1b Clinical Trial of VERVE-101 in HeFH Patients at the American Heart Association’s Scientific Sessions 2023
- Verve Therapeutics to Participate in the 2023 Cantor Global Healthcare Conference
