Your MBA application is just as important as your GMAT score.
I recently took the GMAT (second attempt) and I scored a 650, 47Q/34V and both were 70th percentile. I am targeting schools in the 15-25 range. Should I be concerned about my score?
Your verbal is weak, but you’ve taken twice and that may be the best that will be worth your time. You will be on the low end of the range for your chosen schools. That is not a deal breaker. What may hurt you is the rest of the profile. Make sure your story of who you are, where you are headed and how business school can take you there is tight! Map out your application from the 20,000′ level before you start writing essays. Be very strategic with how you put the bschool application together and you will only have to count the GMAT as a check minus (as opposed to a minus).
If your essays are weak . . . bad news. Good luck!