Verve Therapeutics price target lowered to $40 from $56 at Stifel

Stifel lowered the firm’s price target on Verve Therapeutics to $40 from $56 and keeps a Buy rating on the shares. Shares are sharply lower following an earlier VERVE-101 update likely amplified by the small dataset backing the program reminiscent of initial Phase 1b Heart-1 data, the analyst tells investors in a research note. The firm is reluctant to throw in the towel on the program, but is pushing out the drug’s market entry projection by one year.