Verve Therapeutics price target lowered to $17 from $20 at RBC Capital

RBC Capital lowered the firm’s price target on Verve Therapeutics (VERV) to $17 from $20 and keeps an Outperform rating on the shares after its Q3 results. The first-gen PCSK9 program remains on enrollment pause due to ALT elevation/thrombocytopenia previously reported, but the next-gen designed to spare the toxicities has been dosed in 7 patients with no lab abnormalities reported to date, the analyst tells investors in a research note. The first-gen setback is unfortunate, but RBC is encouraged by clean safety so far for next- gen, the firm added.