LifeSci Capital analyst Cory Jubinville, PhD has maintained their bullish stance on VERV stock, giving a Buy rating on October 24.
Cory Jubinville, PhD, issued a Buy rating for Verve Therapeutics due to a variety of reasons. Primarily, his decision was influenced by Eli Lilly’s acquisition of the opt-in rights to co-develop and co-commercialize three of Verve’s in vivo base editing programs. The deal, which includes an upfront payment of $200M, a $50M equity investment in Beam, and up to $350M in future developmental-stage milestones, demonstrates a significant vote of confidence in Verve’s potential.
Furthermore, Jubinville’s rating was swayed by the fact that Lilly had access to Verve’s interim Phase 1b heart-1 data as part of their due diligence process, suggesting that the pharmaceutical giant sees promise in the company’s clinical data. Additionally, Lilly’s partnership with Verve strengthens the latter’s development and commercialization prospects, especially for large indications like HeFH and ASCVD. Jubinville also sees recent validations, including Lilly’s acquisition and last week’s IND clearance from the FDA, as signaling a positive interim heart-1 readout from both a safety and efficacy perspective.
In another report released on October 24, Canaccord Genuity also maintained a Buy rating on the stock with a $29.00 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 and Lilly Relationship Expands to Include Verve’s In Vivo Gene Editing Programs Targeting PCSK9 and ANGPTL3
- Cathie Wood’s ARK Investment bought 311K shares of Verve Therapeutics today
- William Blair biotech analyst to hold an analyst/industry conference call
- Cathie Wood’s ARK Investment bought 277.8K shares of Verve Therapeutics today
- Verve Therapeutics Announces Clearance of Investigational New Drug Application by the U.S. FDA for VERVE-101 in Patients with Heterozygous Familial Hypercholesterolemia
