Buy Rating Affirmed for Verve Therapeutics with Strategic Focus on Promising VERVE-102 Program

Cory Jubinville, PhD, an analyst from LifeSci Capital, maintained the Buy rating on Verve Therapeutics (VERV – Research Report). The associated price target was lowered to $21.00.

Cory Jubinville, PhD has given his Buy rating due to a combination of factors, including Verve Therapeutics’ strategic shift in focus towards advancing their VERVE-102 program following safety concerns with VERVE-101. The decision to prioritize VERVE-102, which is set to enter clinical trials, is underpinned by its promising preclinical profile and the use of a different ionizable lipid, which has shown a relatively clean safety profile in similar gene editing programs. Jubinville’s confidence in the stock is also supported by the efficacy data from interim studies, despite the recent pause in enrolling new patients for the VERVE-101 study.

Furthermore, the financial position of Verve Therapeutics seems to provide a stable runway, with approximately 2.5 years of cash left at the current burn rate. Additionally, the analyst perceives the challenges faced by VERVE-101 as a de-risking factor for VERVE-102, given the latter’s similar efficacy and potentially improved safety profile. This, coupled with the existing market for PCSK9 inhibitors and their proven benefits, suggests that there is a significant opportunity for a successful gene editing treatment, positioning Verve Therapeutics as a potentially attractive investment.

In another report released today, RBC Capital also maintained a Buy rating on the stock with a $35.00 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.