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Verve Therapeutics Inc Up 13.17% To $16.34 After Earnings Beat

Tuesday, February 27, 2024 11:54 AM | InvestorsObserver Analysts

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Verve Therapeutics Inc Up 13.17% To $16.34 After Earnings Beat

Tuesday, February 27, 2024 - Verve Therapeutics Inc (VERV) reported upside earnings and revenues today.

Verve Therapeutics Inc's earnings came in at an EPS loss of $0.69 per share, 16.00% higher than estimates for an EPS loss of $0.82 per share. The firm's loss per share expanded by 3% since reporting a loss of $0.67 per share a year ago.

Consensus analyst estimates were at $1.2 million. The Healthcare company managed to surpass those expectations for its fourth quarter with revenue of $5.1 million, a positive revenue surprise of $4 million (340%). The firm managed 408% growth year-over-year due to Verve Therapeutics Inc reporting quarterly revenue of $1 million in its year-ago quarter. Verve Therapeutics Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is up 13.17% to $16.34 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Verve Therapeutics Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 56. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Verve Therapeutics Inc is a genetic medicines company pioneering a new approach to the care of cardiovascular disease, transforming treatment from chronic management to single-course gene editing medicines. The company's initial two programs target PCSK9 and ANGPTL3, genes that have been extensively validated as targets for lowering blood lipids such as low-density lipoprotein cholesterol, a root cause of cardiovascular disease. The company views its operations as and manages its business in one operating segment operating exclusively in the United States.

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