Pharvaris (NASDAQ:PHVS) Rating Increased to Strong-Buy at Wells Fargo & Company

Pharvaris (NASDAQ:PHVS) was upgraded by Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Wolfe Research initiated coverage on Pharvaris in a report on Thursday, April 9th. They set an “outperform” rating and a $42.00 price target for the company. Morgan Stanley raised their price target on shares of Pharvaris from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Royal Bank Of Canada lowered their price objective on Pharvaris from $52.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. UBS Group set a $74.00 target price on shares of Pharvaris in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pharvaris in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pharvaris has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Pharvaris Price Performance

Shares of PHVS opened at $35.16 on Wednesday. Pharvaris has a one year low of $19.12 and a one year high of $36.60. The stock has a 50-day moving average of $31.98 and a 200-day moving average of $28.89. The company has a market cap of $2.30 billion, a PE ratio of -11.06 and a beta of -2.34.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.12. Analysts expect that Pharvaris will post -3.2 EPS for the current fiscal year.

Insider Transactions at Pharvaris

In other news, insider Anna Nijdam sold 2,670 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.87, for a total value of $82,422.90. Following the completion of the sale, the insider owned 46,275 shares of the company’s stock, valued at approximately $1,428,509.25. This represents a 5.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anne Lesage sold 27,872 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.48, for a total transaction of $988,898.56. Following the sale, the insider owned 58,750 shares of the company’s stock, valued at approximately $2,084,450. The trade was a 32.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 303,356 shares of company stock worth $9,746,065. Corporate insiders own 11.84% of the company’s stock.

Institutional Trading of Pharvaris

A number of institutional investors have recently modified their holdings of PHVS. venBio Partners LLC lifted its holdings in Pharvaris by 8.2% in the 3rd quarter. venBio Partners LLC now owns 4,639,304 shares of the company’s stock worth $115,751,000 after buying an additional 350,000 shares during the period. Deerfield Management Company L.P. boosted its holdings in shares of Pharvaris by 21.1% during the 3rd quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company’s stock valued at $60,939,000 after buying an additional 425,000 shares in the last quarter. Commodore Capital LP grew its holdings in Pharvaris by 1.6% in the first quarter. Commodore Capital LP now owns 1,918,970 shares of the company’s stock worth $54,211,000 after purchasing an additional 29,525 shares during the period. Paradigm Biocapital Advisors LP grew its stake in shares of Pharvaris by 72.7% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company’s stock worth $45,796,000 after buying an additional 772,583 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Pharvaris during the third quarter valued at $43,282,000.

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.