PMV Pharmaceuticals (NASDAQ:PMVP) Issues Earnings Results, Misses Estimates By $0.18 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) released its quarterly earnings results on Tuesday. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.18), FiscalAI reports.

PMV Pharmaceuticals Stock Down 1.8%

PMVP stock traded down $0.02 during trading on Tuesday, hitting $1.23. The company had a trading volume of 144,498 shares, compared to its average volume of 522,175. The firm has a market cap of $65.60 million, a PE ratio of -0.87 and a beta of 1.52. PMV Pharmaceuticals has a 1-year low of $1.02 and a 1-year high of $1.91. The firm has a 50-day moving average price of $1.39 and a 200-day moving average price of $1.30.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PMVP shares. Wall Street Zen downgraded PMV Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a research report on Friday, September 4th. Finally, Weiss Ratings raised shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PMV Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $4.33.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-causing mutations in the tumor suppressor protein p53. The company aims to discover and develop small-molecule medicines designed to restore the normal tumor-suppressing function of mutant p53 proteins.

PMV’s lead product candidate is rezatapopt, also known as PC14586, an investigational oral therapy designed to selectively target the p53 Y220C mutation. This mutation occurs in a range of solid tumors, and rezatapopt is being evaluated for its potential to reactivate the altered p53 protein and inhibit cancer-cell growth.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals is advancing rezatapopt through clinical development in patients with advanced solid tumors containing the p53 Y220C mutation.