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On Friday, H.C. Wainwright adjusted its price target for Verve Therapeutics (NASDAQ:VERV) shares, raising it to $15 from the previous $14, while reiterating a Buy rating on the stock. According to InvestingPro data, analyst targets for VERV range from $14 to $33.82, with the stock currently trading at $6.20. The firm’s analyst, Mitchell Kapoor, expressed confidence ahead of the company’s second-quarter data release, anticipated to be a significant turning point for the biotechnology firm.
Verve Therapeutics, with a market capitalization of $525 million, is poised for a pivotal data readout in the second quarter of 2025, which could be a major milestone. The optimism is partly based on the robust performance of the company’s earlier-generation product, VERVE-101. In presentations at the American Society of Nephrology (ASN) and the European Society of Gene and Cell Therapy (ESGCT) conferences in October 2024, Verve shared promising updates on VERVE-101’s sustained efficacy in lowering LDL-C (bad cholesterol) levels in patients.
The data presented, with a cutoff date of October 3, 2024, showed that high doses of VERVE-101 (0.45mg/kg and 0.6mg/kg) continued to effectively reduce LDL-C levels over various follow-up periods. Specifically, all six patients in the 0.45mg/kg cohort showed measurable durability at six months, with three maintaining results at nine and twelve months. The single patient treated with a 0.6mg/kg dose exhibited sustained results up to eighteen months. In total, thirteen patients received VERVE-101, with the higher doses leading to average LDL-C reductions of 42% and 57%, respectively.
Analysts at H.C. Wainwright are encouraged by the similarities between VERVE-101 and the company’s next-generation product, VERVE-102, and anticipate that the efficacy will largely carry over. The anticipation of positive data from the upcoming readout is underpinned by the previous success and observed dose-response relationship in the administration of VERVE-101. InvestingPro analysis reveals the company maintains a strong liquidity position with a current ratio of 12.65, though it’s currently burning through cash. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Stifel has identified Rhythm Pharmaceuticals (NASDAQ:RYTM), Soleno Therapeutics (NASDAQ:SLNO), and Verve Therapeutics as its top biotech picks for 2025, emphasizing key events in the first half of the year that could significantly impact their stock values. Rhythm Pharmaceuticals is focusing on hypothalamic obesity, while Soleno Therapeutics is engaged with Prader-Willi syndrome, and Verve Therapeutics is advancing its PCSK9 editor. The firm notes that Rhythm and Verve are expected to release clinical data, and Soleno is awaiting a regulatory decision, with a PDUFA date set for March 27, 2025. Stifel suggests that favorable outcomes could lead to merger and acquisition interest or strategic partnerships, especially for Rhythm and Soleno. Verve’s upcoming Phase 1b Heart-2 data could distinguish its product in terms of safety, potentially influencing Eli Lilly (NYSE:LLY)’s decision to opt-in later in the year. Stifel’s report highlights the potential for revenue growth and profitability for Soleno, making it an appealing target for strategic investors. These developments underscore the importance of scientific advancements and data in the biotech sector, as noted by Stifel.
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