Wedbush Issues Positive Forecast for Pharvaris (NASDAQ:PHVS) Stock Price

Pharvaris (NASDAQ:PHVS) had its price target increased by stock analysts at Wedbush from $27.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 27.77% from the stock’s current price.

Several other research analysts have also recently weighed in on PHVS. JMP Securities decreased their price objective on shares of Pharvaris from $55.00 to $52.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 13th. Zacks Research upgraded shares of Pharvaris from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pharvaris in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Pharvaris in a research note on Thursday. Finally, Bank of America raised shares of Pharvaris from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $27.00 in a research note on Thursday, October 9th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Pharvaris Trading Down 9.0%

Pharvaris stock traded down $2.33 during mid-day trading on Thursday, reaching $23.48. The company had a trading volume of 90,687 shares, compared to its average volume of 113,917. The company has a market cap of $1.23 billion, a P/E ratio of -6.99 and a beta of -2.78. Pharvaris has a fifty-two week low of $11.51 and a fifty-two week high of $26.33. The business has a fifty day simple moving average of $23.14 and a 200 day simple moving average of $20.58.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.08. Research analysts forecast that Pharvaris will post -2.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Palumbo Wealth Management LLC grew its stake in shares of Pharvaris by 3.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company’s stock worth $256,000 after purchasing an additional 447 shares during the period. JPMorgan Chase & Co. increased its position in Pharvaris by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after acquiring an additional 783 shares during the period. HighVista Strategies LLC boosted its position in shares of Pharvaris by 4.3% during the 2nd quarter. HighVista Strategies LLC now owns 23,739 shares of the company’s stock valued at $418,000 after purchasing an additional 971 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Pharvaris by 9.8% in the 2nd quarter. California State Teachers Retirement System now owns 14,048 shares of the company’s stock valued at $247,000 after acquiring an additional 1,257 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after purchasing an additional 1,695 shares during the period.

Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.