Royal Bank Of Canada Initiates Coverage on Pharvaris (NASDAQ:PHVS)

Royal Bank Of Canada assumed coverage on shares of Pharvaris (NASDAQ:PHVS) in a research note issued on Monday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $52.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 99.96% from the stock’s previous close.

Several other equities research analysts also recently issued reports on PHVS. Guggenheim lifted their price target on shares of Pharvaris from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Wedbush boosted their price target on Pharvaris from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Bank of America increased their price target on Pharvaris from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Morgan Stanley raised their price objective on Pharvaris from $37.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Pharvaris in a research report on Tuesday, March 3rd. Ten research 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’s stock. According to data from MarketBeat, Pharvaris presently has an average rating of “Moderate Buy” and an average price target of $41.70.

Pharvaris Stock Up 0.4%

Shares of PHVS stock traded up $0.10 during mid-day trading on Monday, reaching $26.01. The company’s stock had a trading volume of 18,288 shares, compared to its average volume of 153,451. Pharvaris has a 12-month low of $11.51 and a 12-month high of $29.80. The firm has a market capitalization of $1.36 billion, a PE ratio of -8.10 and a beta of -2.78. The company’s 50 day simple moving average is $26.74 and its 200-day simple moving average is $24.89.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Pharvaris by 41.1% during the second quarter. Geode Capital Management LLC now owns 54,102 shares of the company’s stock worth $952,000 after purchasing an additional 15,769 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Pharvaris by 30.6% during 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. Legal & General Group Plc increased its stake in Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock valued at $203,000 after purchasing an additional 1,695 shares during the last quarter. Amundi boosted its holdings in shares of Pharvaris by 2,741,600.0% in the 2nd quarter. Amundi now owns 27,417 shares of the company’s stock valued at $489,000 after buying an additional 27,416 shares during the period. Finally, HighVista Strategies LLC grew 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 buying an additional 971 shares during the last quarter.

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.