Bank of America Upgrades Pharvaris (NASDAQ:PHVS) to “Buy”

Pharvaris (NASDAQ:PHVS) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a report released on Friday, Marketbeat.com reports. The firm currently has a $44.00 target price on the stock. Bank of America‘s price target points to a potential upside of 39.39% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Citigroup reaffirmed a “market outperform” rating on shares of Pharvaris in a research report on Wednesday, September 9th. Guggenheim raised their target price on Pharvaris from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Morgan Stanley boosted their target price on shares of Pharvaris from $46.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pharvaris in a research note on Thursday, October 15th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Pharvaris in a research note on Tuesday, October 6th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pharvaris has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Pharvaris Trading Up 2.9%

NASDAQ PHVS traded up $0.89 on Friday, hitting $31.57. The company’s stock had a trading volume of 346,610 shares, compared to its average volume of 442,807. The firm has a market cap of $2.06 billion, a P/E ratio of -10.34 and a beta of -2.46. The company’s 50-day simple moving average is $34.06 and its 200 day simple moving average is $32.52. Pharvaris has a 52-week low of $21.02 and a 52-week high of $43.25.

Pharvaris (NASDAQ:PHVS) last announced its earnings results on Wednesday, August 12th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). On average, research analysts forecast that Pharvaris will post -3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Pharvaris news, Director Johannes Gerardus Chri Schikan sold 200,000 shares of Pharvaris stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $35.00, for a total transaction of $7,000,000.00. Following the completion of the sale, the director directly owned 115,167 shares in the company, valued at approximately $4,030,845. The trade was a 63.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elisabeth Bjork sold 52,500 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $37.89, for a total transaction of $1,989,225.00. Following the completion of the sale, the director directly owned 15,167 shares in the company, valued at approximately $574,677.63. The trade was a 77.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 513,102 shares of company stock worth $18,643,666 in the last quarter. 11.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Pharvaris

A number of institutional investors and hedge funds have recently bought and sold shares of the business. venBio Partners LLC acquired a new position in Pharvaris in the second quarter valued at approximately $160,569,809. 5AM Venture Management LLC acquired a new stake in shares of Pharvaris in the 2nd quarter worth approximately $27,581,008. BlackRock Inc. acquired a new position in Pharvaris during the second quarter worth about $26,677,000. Elmind Capital LP purchased a new stake in shares of Pharvaris in the second quarter valued at $18,180,435. Finally, Seven Fleet Capital Management LP raised its holdings in Pharvaris by 144.6% in the 2nd quarter. Seven Fleet Capital Management LP now owns 774,501 shares of the company’s stock valued at $26,782,000 after acquiring an additional 457,804 shares during the last quarter.

Pharvaris Company Profile

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.