Pharvaris (NASDAQ:PHVS) Price Target Raised to $52.00

Pharvaris (NASDAQ:PHVS) had its target price lifted by Royal Bank Of Canada from $51.00 to $52.00 in a report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

PHVS has been the subject of several other reports. Citigroup reiterated a “market outperform” rating on shares of Pharvaris in a report on Thursday. Citizens Jmp lifted their target price on shares of Pharvaris from $74.00 to $75.00 and gave the company a “market outperform” rating in a research note on Thursday. Wall Street Zen downgraded shares of Pharvaris from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Guggenheim increased their price target on shares of Pharvaris from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley raised their price target on shares of Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.08.

Pharvaris Price Performance

NASDAQ PHVS opened at $35.14 on Thursday. Pharvaris has a 12 month low of $20.65 and a 12 month high of $36.93. The firm has a market capitalization of $2.30 billion, a PE ratio of -11.52 and a beta of -2.31. The company’s 50 day simple moving average is $33.71 and its 200 day simple moving average is $30.09.

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). Sell-side analysts anticipate that Pharvaris will post -3.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Berndt Modig sold 2,291 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $31.07, for a total transaction of $71,181.37. Following the completion of the sale, the chief executive officer directly owned 135,209 shares of the company’s stock, valued at approximately $4,200,943.63. This represents a 1.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anne Lesage sold 27,872 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $35.48, for a total transaction of $988,898.56. Following the completion of the transaction, the insider owned 58,750 shares in the company, valued at $2,084,450. The trade was a 32.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 158,322 shares of company stock valued at $5,371,886 in the last three months. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Pharvaris

Several hedge funds and other institutional investors have recently made changes to their positions in the business. venBio Partners LLC lifted its position in shares of Pharvaris by 8.2% during the 3rd quarter. venBio Partners LLC now owns 4,639,304 shares of the company’s stock worth $115,751,000 after purchasing an additional 350,000 shares during the last quarter. Deerfield Management Company L.P. boosted its stake in Pharvaris by 21.1% during the 3rd quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company’s stock valued at $60,939,000 after purchasing an additional 425,000 shares during the period. Commodore Capital LP boosted its stake in Pharvaris by 1.6% during the 1st quarter. Commodore Capital LP now owns 1,918,970 shares of the company’s stock valued at $54,211,000 after purchasing an additional 29,525 shares during the period. Paradigm Biocapital Advisors LP increased its position in Pharvaris by 72.7% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company’s stock worth $45,796,000 after buying an additional 772,583 shares during the period. Finally, Wellington Management Group LLP bought a new position in Pharvaris in the 3rd quarter worth approximately $43,282,000.

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.