Pharvaris (NASDAQ:PHVS) Hits New 12-Month High After Analyst Upgrade

Pharvaris N.V. (NASDAQ:PHVS) hit a new 52-week high during mid-day trading on Thursday after Royal Bank Of Canada raised their price target on the stock from $51.00 to $52.00. Royal Bank Of Canada currently has an outperform rating on the stock. Pharvaris traded as high as $36.65 and last traded at $36.46, with a volume of 1273185 shares. The stock had previously closed at $34.42.

Other equities analysts have also issued research reports about the stock. Guggenheim upped their price objective on shares of Pharvaris from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley raised their target price on Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. HC Wainwright reaffirmed a “buy” rating on shares of Pharvaris in a research report on Tuesday, June 16th. Wall Street Zen downgraded Pharvaris from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, Citizens Jmp increased their price target on Pharvaris from $74.00 to $75.00 and gave the stock a “market outperform” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.08.

Insider Activity

In other news, Director Elisabeth Bjork sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $29.32, for a total value of $293,200.00. Following the transaction, the director owned 15,167 shares in the company, valued at $444,696.44. This trade represents a 39.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anne Lesage sold 30,703 shares of Pharvaris stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total value of $1,089,649.47. Following the transaction, the insider directly owned 93,969 shares in the company, valued at approximately $3,334,959.81. The trade was a 24.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 158,322 shares of company stock valued at $5,371,886. 11.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pharvaris

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its stake in shares of Pharvaris by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 23,982 shares of the company’s stock worth $666,000 after acquiring an additional 520 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Pharvaris by 30.6% in the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after purchasing an additional 783 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Pharvaris during the second quarter valued at about $41,000. GF Fund Management CO. LTD. bought a new position in shares of Pharvaris during the fourth quarter valued at about $35,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in Pharvaris by 20.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company’s stock worth $210,000 after purchasing an additional 1,300 shares during the last quarter.

Pharvaris Price Performance

The firm’s fifty day moving average is $33.71 and its two-hundred day moving average is $30.09. The firm has a market capitalization of $2.30 billion, a PE ratio of -11.52 and a beta of -2.31.

Pharvaris (NASDAQ:PHVS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). As a group, equities research analysts predict that Pharvaris N.V. will post -2.97 EPS for the current fiscal year.

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.