Pharvaris (NASDAQ:PHVS) Stock Rating Raised to Buy at Bank of America

Pharvaris (NASDAQ:PHVS) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat reports. The brokerage presently has a $44.00 price target on the stock. Bank of America‘s price objective indicates a potential upside of 40.08% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pharvaris in a research report on Thursday, October 15th. HC Wainwright reissued a “buy” rating on shares of Pharvaris in a research report on Tuesday, October 6th. Royal Bank Of Canada increased their price objective on Pharvaris from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. UBS Group set a $60.00 price objective on Pharvaris in a research report on Tuesday, October 6th. Finally, Wells Fargo & Company increased their price objective on Pharvaris from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.53.

Pharvaris Trading Up 2.4%

Pharvaris stock traded up $0.73 during trading hours on Friday, reaching $31.41. 621,705 shares of the company were exchanged, compared to its average volume of 444,254. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -10.30 and a beta of -2.46. The stock has a 50-day moving average of $34.06 and a 200 day moving average of $32.52. Pharvaris has a 12 month low of $21.02 and a 12 month high of $43.25.

Pharvaris (NASDAQ:PHVS) last announced its 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, research analysts forecast that Pharvaris will post -3.12 EPS for the current year.

Insider Buying and Selling

In other news, President Peng Lu sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00. Following the completion of the sale, the president directly owned 64,953 shares of the company’s stock, valued at approximately $2,273,355. This represents a 60.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elisabeth Bjork sold 52,500 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $37.89, for a total value of $1,989,225.00. Following the completion of the sale, the director directly owned 15,167 shares of the company’s stock, valued at $574,677.63. This represents a 77.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 513,102 shares of company stock valued at $18,643,666 in the last ninety days. Company insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new position in shares of Pharvaris in the second quarter valued at $4,800,000. Alyeska Investment Group L.P. raised its stake in shares of Pharvaris by 225.5% in the second quarter. Alyeska Investment Group L.P. now owns 406,829 shares of the company’s stock valued at $14,068,000 after purchasing an additional 281,829 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Pharvaris in the second quarter valued at $26,677,000. Seven Fleet Capital Management LP raised its stake in Pharvaris by 144.6% during the second quarter. Seven Fleet Capital Management LP now owns 774,501 shares of the company’s stock worth $26,782,000 after acquiring an additional 457,804 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Pharvaris by 12.9% during the second quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company’s stock worth $82,748,000 after acquiring an additional 274,034 shares in the last quarter.

About Pharvaris

Pharvaris N.V. (NASDAQ: PHVS) is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder that causes recurrent episodes of swelling. The company was founded in 2015 by individuals with experience in HAE drug development and aims to provide convenient, non-injectable treatment options for patients.

Pharvaris’ lead investigational product is deucrictibant, an oral bradykinin B2 receptor antagonist designed for use both as an on-demand treatment for HAE attacks and as a preventive therapy.