1 Beaten-Down Stock That Could Skyrocket By 321%, According to Wall Street
Equity markets have been volatile this year due to macroeconomic and geopolitical factors. Many of the world's largest corporations haven't escaped the sell-off, and it's hard to predict what's next. Even so, Wall Street has high hopes for some companies. Take Verve Therapeutics (NASDAQ: VERV), a small-cap, clinical-stage biotech. Based on the drugmaker's average price target of $24.43 (according to Yahoo! Finance), the stock could soar by 321% in the next 12 months. That isn't unheard of in the exciting biotech industry, but before rushing to buy Verve Therapeutics' shares, here's what investors need to know about the company.Clinical-stage biotech stocks can experience significant value increases due to promising clinical or regulatory news. If Verve Therapeutics has any chance of soaring by more than 300% in the next year, the company will have to impress the market with its leading candidate, VERVE-102. This product is nowhere close to approval, but can it make enough progress to match the Street's estimates? Notably, Verve Therapeutics recently announced positive results from a Phase 1b clinical trial for VERVE-102 as a potential treatment for heterozygous familial hypercholesterolemia (HeFH) and/or premature coronary artery disease.HeFH is a genetic disease that causes elevated levels of LDL cholesterol (LDL-C) -- also known as "bad" cholesterol -- which, in high concentration, can lead to severe cardiovascular issues. During the study, a single injection of VERVE-102, an in vivo gene editing therapy, led to a mean LDL-C reduction of 53% in patients. The medicine also showed a reasonable safety profile. These results look promising, especially when considering VERVE-102's potential target market. Verve Therapeutics estimates that there are approximately three million patients in the U.S. and the European Union with HeFH, and 31 million globally.Continue reading
Equity markets have been volatile this year due to macroeconomic and geopolitical factors. Many of the world's largest corporations haven't escaped the sell-off, and it's hard to predict what's next. Even so, Wall Street has high hopes for some companies. Take Verve Therapeutics (NASDAQ: VERV), a small-cap, clinical-stage biotech. Based on the drugmaker's average price target of $24.43 (according to Yahoo! Finance), the stock could soar by 321% in the next 12 months. That isn't unheard of in the exciting biotech industry, but before rushing to buy Verve Therapeutics' shares, here's what investors need to know about the company.
Clinical-stage biotech stocks can experience significant value increases due to promising clinical or regulatory news. If Verve Therapeutics has any chance of soaring by more than 300% in the next year, the company will have to impress the market with its leading candidate, VERVE-102. This product is nowhere close to approval, but can it make enough progress to match the Street's estimates? Notably, Verve Therapeutics recently announced positive results from a Phase 1b clinical trial for VERVE-102 as a potential treatment for heterozygous familial hypercholesterolemia (HeFH) and/or premature coronary artery disease.
HeFH is a genetic disease that causes elevated levels of LDL cholesterol (LDL-C) -- also known as "bad" cholesterol -- which, in high concentration, can lead to severe cardiovascular issues. During the study, a single injection of VERVE-102, an in vivo gene editing therapy, led to a mean LDL-C reduction of 53% in patients. The medicine also showed a reasonable safety profile. These results look promising, especially when considering VERVE-102's potential target market. Verve Therapeutics estimates that there are approximately three million patients in the U.S. and the European Union with HeFH, and 31 million globally.
