BMO Capital Downgrades Verve Therapeutics (VERV) to Market Perform

BMO Capital analyst Kostas Biliouris downgraded Verve Therapeutics (NASDAQ: VERV) from Outperform to Market Perform with a price target of $13.50.

The analyst comments "We downgrade VERV to Market Perform (from Outperform) to reflect LLY's ($792.30; OP rated by Evan Seigerman) definitive agreement to acquire VERV for up to $1.3B (details here). Note that the Tender offer expires midnight of 7/23, while the HSR is set to expire on 7/25. We expect a smooth deal closure by 3Q25 given LLY/VERV extensive relationship/partnership and see ~70% likelihood of $3/share CVR by ~2028 upon VERVE-102 PhIII initiation in ASCVD."

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 $11.21 yesterday.

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