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Verve's Stock Price Could Continue To Rise Through Clinical Progress - Despite Worries About "DeeperPocketed" Competition

Vandana Singh
·1 分鐘文章

  • Credit Suisse has initiated coverage on Verve Therapeutics Inc (NASDAQ: VERV) with a Neutral rating and a $48 target price.

  • Its lead assets are VERVE-101 for heterozygous familial hypercholesterolemia (HeFH) and atherosclerotic cardiovascular disease (ASCVD) and VERVE-201 for homozygous familial hypercholesterolemia (HoFH).

  • The analyst is cautious about VERVE-101, citing a distinct advantage of being a one-time PCSK9 therapy that could free patients from a lifetime of monthly injections. However, patients are still required to take daily oral statins.

  • Related: Verve Therapeutics Posts Updated Preclinical Data For Gene-Editing Therapy In Cardiovascular Disease.

  • Credit Suisse sees high market barriers related to commercial payers and high out-of-pocket expenses for Medicare patients.

  • However, the analyst believes payer challenges may not be fully appreciated until product approval/launch.

  • The opinion is based on numerically worse LDL-C reduction data, elevated liver enzymes, lack of outcomes evidence at launch, and reimbursement challenges.

  • Additionally, Leqvio has not demonstrated much commercial success despite less frequent dosing every six months.

  • The market could be further crowded with the potential launch of Merck & Co Inc's (NYSE: MRK) oral PCSK9 (MK-0616) and biosimilars.

  • The analyst's Neutral rating is driven by VERV's ability to compete against well-established, wellentrenched, and deeperpocketed large pharma/biotech companies.

  • Price Action: VERV shares are up 1.80% at $36.80 on the last check Thursday.

Latest Ratings for VERV

Date

Firm

Action

From

To

Feb 2022

RBC Capital

Initiates Coverage On

Outperform

Sep 2021

Stifel

Initiates Coverage On

Hold

Jul 2021

William Blair

Initiates Coverage On

Outperform

View More Analyst Ratings for VERV

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