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

Pharvaris (NASDAQ:PHVS) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a $44.00 price objective on the stock. Bank of America‘s target price would suggest a potential upside of 43.42% from the company’s current price.

PHVS has been the topic of several other reports. Wedbush raised their price objective on shares of Pharvaris from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Wells Fargo & Company boosted their target price on shares of Pharvaris from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, September 9th. Citigroup restated a “market outperform” rating on shares of Pharvaris in a research report on Wednesday, September 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Pharvaris in a report on Monday, September 14th. Finally, Guggenheim increased their target price on shares of Pharvaris from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.53.

Pharvaris Stock Performance

Shares of Pharvaris stock opened at $30.68 on Friday. Pharvaris has a 52-week low of $21.02 and a 52-week high of $43.25. The company has a 50-day simple moving average of $34.06 and a two-hundred day simple moving average of $32.52. The stock has a market capitalization of $2.01 billion, a PE ratio of -10.06 and a beta of -2.46.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). As a group, equities research analysts forecast that Pharvaris will post -3.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Viviane Monges sold 11,969 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $33.05, for a total transaction of $395,575.45. Following the completion of the sale, the director directly owned 5,500 shares of the company’s stock, valued at approximately $181,775. This trade represents a 68.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johannes Gerardus Chri Schikan sold 800 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $36.19, for a total transaction of $28,952.00. Following the sale, the director directly owned 115,167 shares in the company, valued at $4,167,893.73. This represents a 0.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 513,102 shares of company stock worth $18,643,666 in the last quarter. 11.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Pharvaris

Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Pharvaris in the 2nd quarter worth $41,000. CoreCap Advisors LLC acquired a new stake in Pharvaris during the second quarter worth approximately $93,000. Public Employees Retirement System of Ohio purchased a new position in Pharvaris during the second quarter worth about $196,000. Algert Global LLC purchased a new position in shares of Pharvaris in the 2nd quarter worth $238,000. Finally, Persistent Asset Partners Ltd purchased a new position in Pharvaris in the second quarter valued at approximately $273,000.

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.