Pharvaris (NASDAQ:PHVS) Receives “Outperform” Rating from Wedbush

Pharvaris (NASDAQ:PHVS)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report released on Tuesday, Benzinga reports. They currently have a $42.00 price target on the stock. Wedbush’s price objective points to a potential upside of 19.15% from the company’s previous close.

A number of other brokerages have also commented on PHVS. HC Wainwright reissued a “buy” rating on shares of Pharvaris in a report on Friday, August 14th. UBS Group set a $74.00 target price on Pharvaris in a research note on Wednesday, May 13th. Citizens Jmp raised their price target on Pharvaris from $74.00 to $75.00 and gave the company a “market outperform” rating in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pharvaris in a research report on Friday, July 17th. Finally, New Street Research set a $60.00 target price on shares of Pharvaris in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.08.

Pharvaris Stock Performance

NASDAQ PHVS opened at $35.25 on Tuesday. The stock has a 50-day simple moving average of $34.79 and a 200 day simple moving average of $31.12. Pharvaris has a twelve month low of $20.65 and a twelve month high of $38.13. The stock has a market capitalization of $2.31 billion, a PE ratio of -11.56 and a beta of -2.33.

Pharvaris (NASDAQ:PHVS) last issued 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, equities research analysts forecast that Pharvaris will post -3.15 EPS for the current fiscal year.

Insider Activity at Pharvaris

In related news, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total transaction of $1,089,968.88. Following the completion of the transaction, the director owned 315,167 shares in the company, valued at approximately $11,185,276.83. The trade was a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anne Lesage sold 30,703 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total transaction of $1,089,649.47. Following the completion of the transaction, the insider owned 93,969 shares of the company’s stock, valued at $3,334,959.81. This trade represents a 24.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 118,655 shares of company stock worth $4,188,002.

Institutional Investors Weigh In On Pharvaris

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. raised its holdings 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 during the last quarter. Seven Fleet Capital Management LP grew its holdings in Pharvaris by 472.3% during the first quarter. Seven Fleet Capital Management LP now owns 316,697 shares of the company’s stock worth $8,947,000 after purchasing an additional 261,355 shares during the period. PSP Research LLC acquired a new stake in shares of Pharvaris in the fourth quarter valued at approximately $569,000. BlackRock Inc. bought a new position in Pharvaris during the second quarter worth $26,677,000. Finally, DV Trading LLC bought a new stake in shares of Pharvaris during the 1st quarter worth about $4,067,000.

Pharvaris Company Profile

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.