Citizens Jmp Cuts Pharvaris (NASDAQ:PHVS) Price Target to $74.00

Pharvaris (NASDAQ:PHVS) had its target price cut by equities research analysts at Citizens Jmp from $75.00 to $74.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price suggests a potential upside of 130.64% from the stock’s current price.

PHVS has been the topic of a number of other research reports. Citigroup reiterated a “buy” rating on shares of Pharvaris in a research note on Wednesday, April 15th. Royal Bank Of Canada cut their price target on Pharvaris from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Wedbush boosted their price objective on Pharvaris from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Wall Street Zen downgraded Pharvaris from a “sell” rating to a “strong sell” rating in a research note on Monday, April 13th. Finally, Wolfe Research started coverage on Pharvaris in a report on Thursday, April 9th. They set an “outperform” rating and a $42.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pharvaris has an average rating of “Moderate Buy” and a consensus price target of $47.17.

Pharvaris Trading Up 2.7%

Shares of NASDAQ PHVS traded up $0.84 during midday trading on Wednesday, reaching $32.09. The company had a trading volume of 16,062 shares, compared to its average volume of 216,439. The stock has a market cap of $2.10 billion, a P/E ratio of -9.50 and a beta of -2.34. The business’s 50-day simple moving average is $27.89 and its 200 day simple moving average is $26.41. Pharvaris has a 1 year low of $14.59 and a 1 year high of $32.04.

Pharvaris (NASDAQ:PHVS) last issued its quarterly earnings results on Friday, April 3rd. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.15). Analysts predict that Pharvaris will post -3.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Peng Lu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $30.24, for a total value of $453,600.00. Following the completion of the sale, the insider directly owned 66,083 shares in the company, valued at $1,998,349.92. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Berndt Modig sold 23,333 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $27.74, for a total value of $647,257.42. Following the transaction, the chief executive officer directly owned 142,084 shares of the company’s stock, valued at approximately $3,941,410.16. The trade was a 14.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 150,659 shares of company stock worth $4,489,587 in the last 90 days.

Institutional Investors Weigh In On Pharvaris

Institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in Pharvaris during the fourth quarter worth $35,000. JPMorgan Chase & Co. increased its stake in shares of Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after purchasing an additional 783 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Pharvaris during the third quarter worth about $75,000. Barclays PLC acquired a new position in shares of Pharvaris during the 4th quarter worth about $77,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Pharvaris in the 4th quarter valued at about $86,000.

Pharvaris Company Profile

Pharvaris is a clinical-stage biopharmaceutical company focused on discovering and developing novel oral therapies for rare bradykinin-driven diseases. The company’s core mission is to address conditions characterized by uncontrolled activation of the plasma kallikrein-kinin system, with a primary emphasis on hereditary angioedema (HAE), a debilitating disorder marked by recurrent swelling episodes.

The company’s lead program, PHA121, is an investigational once-daily oral plasma kallikrein inhibitor designed for prophylactic treatment of HAE and is advancing through clinical trials.