Kostas Biliouris, an analyst from BMO Capital, maintained the Buy rating on Verve Therapeutics (VERV – Research Report). The associated price target remains the same with $30.00.
Kostas Biliouris has given his Buy rating due to a combination of factors that highlight the potential of Verve Therapeutics. The recent FDA clearance for VERVE-102’s IND is a significant milestone, suggesting a favorable benefit-risk profile and addressing unmet needs in conditions like HeFH and premature coronary artery disease. This approval is seen as a positive indicator for the upcoming VERVE-102 clinical readout, which has a 70% probability of success and could lead to substantial stock upside.
Biliouris also notes the strength of Verve’s management team and the robust preclinical data for VERVE-102, which are well-supported by key opinion leaders and scientific literature. The company’s gene editing strategy for cardiovascular disease, particularly its lead indication in familial hypercholesterolemia, is poised to tap into a large market due to the high prevalence of the condition. Additionally, the potential for a major partnership decision by LLY by the end of 2025 could serve as a critical catalyst for Verve’s long-term growth prospects.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $15.00 price target.
VERV’s price has also changed moderately for the past six months – from $4.950 to $5.780, which is a 16.77% increase.