Pharvaris (NASDAQ:PHVS) Price Target Raised to $75.00

Pharvaris (NASDAQ:PHVS) had its price objective raised by investment analysts at Citizens Jmp from $74.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price would indicate a potential upside of 111.54% from the stock’s current price.

Several other equities research analysts have also weighed in on PHVS. HC Wainwright reissued a “buy” rating on shares of Pharvaris in a research report on Tuesday, June 16th. HSBC upgraded shares of Pharvaris to an “overweight” 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. Morgan Stanley upped their target price on shares of Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Pharvaris in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

Pharvaris Stock Down 2.8%

Pharvaris stock traded down $1.00 during midday trading on Thursday, reaching $35.45. The company’s stock had a trading volume of 99,594 shares, compared to its average volume of 308,662. Pharvaris has a fifty-two week low of $20.65 and a fifty-two week high of $36.93. The company has a market cap of $2.32 billion, a P/E ratio of -11.16 and a beta of -2.31. The business has a 50-day simple moving average of $33.59 and a 200-day simple moving average of $30.01.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). As a group, equities analysts forecast that Pharvaris will post -2.97 earnings per share for the current year.

Insider Transactions at Pharvaris

In related news, insider Anne Lesage sold 27,872 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.48, for a total transaction of $988,898.56. Following the transaction, the insider owned 58,750 shares in the company, valued at $2,084,450. This trade represents a 32.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anna Nijdam sold 2,670 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $30.87, for a total value of $82,422.90. Following the transaction, the insider owned 46,275 shares in the company, valued at $1,428,509.25. This represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 178,322 shares of company stock worth $5,969,286. Insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Pharvaris by 41.1% in the 2nd quarter. Geode Capital Management LLC now owns 54,102 shares of the company’s stock valued at $952,000 after acquiring an additional 15,769 shares during the period. JPMorgan Chase & Co. raised 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 purchasing an additional 783 shares during the last quarter. Legal & General Group Plc boosted its stake in Pharvaris by 17.2% during the 2nd 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. Amundi boosted its stake in Pharvaris by 2,741,600.0% during the 2nd quarter. Amundi now owns 27,417 shares of the company’s stock worth $489,000 after purchasing an additional 27,416 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Pharvaris by 19.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,857 shares of the company’s stock worth $860,000 after purchasing an additional 7,879 shares during the last quarter.

About Pharvaris

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.