Verve Therapeutics price target lowered to $15 from $17 at RBC Capital

RBC Capital lowered the firm’s price target on Verve Therapeutics (VERV) to $15 from $17 but keeps an Outperform rating on the shares after its Q4 results. The company’s first look at next-gen PCSK9 is expected in Q2 as it will share data from 10-12 patients across 3 cohorts with at least 28 days of follow-up, and safety has been clean so far as Verve reiterated that 60-70% reductions in PCSK9 and 40-50% reductions in LDL are the goal posts based on prior data from inclisiran, the analyst tells investors in a research note. RBC remains positive on the stock and believes the company is poised to disrupt current standard of care for ASCVD by permanently silencing genes associated with the disease, the firm added.