UPDATE: Stifel Starts Verve Therapeutics (VERV) at Hold

Stifel analyst Dae Gon Ha initiates coverage on Verve Therapeutics (NASDAQ: VERV) with a Hold rating and a price target of $58.00.

The analyst comments "We are initiating coverage on Verve Therapeutics (VERV) with a Hold rating and $58 target price. We appreciate the innovation, promise, and benefit that base editing (i.e., curative) can bring to the PCSK9 space, and for this, and ANGPTL3, proof-of-concept (PoC) for mAbs and ASOs is validating and limits technical risk. Yet, despite the large addressable markets in the cardiovascular disease (CVD) space, we see challenges toward broad adoption of gene editing in mass market CVD that may ultimately limit the products' revenue potential. The main risk to our thesis is that initial clinical success for VERVE-101 could lead to greater platform appreciation by investors/strategics, but we think editing the genetic code for silent diseases may face greater scrutiny from regulators and patients. And, beyond the initial focus of CVD, we worry about long-term growth potential, given the limited scope of its technology (n=4) derived from BEAM."

For an analyst ratings summary and ratings history on Verve Therapeutics click here. For more ratings news on Verve Therapeutics click here.

Shares of Verve Therapeutics closed at $47.02 yesterday.

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