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

Pharvaris (NASDAQ:PHVS) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat.com reports. The firm currently has a $44.00 price objective on the stock. Bank of America‘s target price would indicate a potential upside of 40.08% from the stock’s previous close.

PHVS has been the subject of a number of other reports. Wells Fargo & Company increased 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. Morgan Stanley increased their price target on shares of Pharvaris from $46.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 9th. Citizens Jmp increased their price target on shares of Pharvaris from $75.00 to $79.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Pharvaris in a research note on Monday, September 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a research note on Thursday, October 15th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pharvaris currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Pharvaris Stock Up 2.4%

Shares of Pharvaris stock traded up $0.73 during trading on Friday, reaching $31.41. 621,580 shares of the stock were exchanged, compared to its average volume of 444,254. The stock’s fifty day moving average is $34.06 and its 200 day moving average is $32.52. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -10.30 and a beta of -2.46. Pharvaris has a 1 year low of $21.02 and a 1 year high of $43.25.

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

Insider Transactions at Pharvaris

In other news, President Peng Lu sold 100,000 shares of Pharvaris stock in a transaction dated 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 transaction, the president owned 64,953 shares of the company’s stock, valued at $2,273,355. The trade was a 60.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Viviane Monges sold 11,969 shares of Pharvaris stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $33.05, for a total value of $395,575.45. Following the completion of the transaction, the director directly owned 5,500 shares of the company’s stock, valued at approximately $181,775. This represents a 68.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 513,102 shares of company stock valued at $18,643,666. 11.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new position in Pharvaris in the 2nd quarter worth about $1,143,000. Amundi increased its position in shares of Pharvaris by 61.4% during the second quarter. Amundi now owns 49,944 shares of the company’s stock valued at $1,727,000 after acquiring an additional 18,992 shares in the last quarter. Moore Capital Management LP bought a new stake in shares of Pharvaris during the second quarter valued at approximately $1,522,000. Alyeska Investment Group L.P. increased its position in shares of Pharvaris by 225.5% during the second quarter. Alyeska Investment Group L.P. now owns 406,829 shares of the company’s stock valued at $14,068,000 after acquiring an additional 281,829 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Pharvaris by 12.9% during the second quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company’s stock valued at $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.