PMV Pharmaceuticals (NASDAQ:PMVP) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright reiterated a “Buy” rating on PMV Pharmaceuticals and set a $5.00 price target, implying approximately 303% upside from the $1.24 share price.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $4.33; ratings include one Strong Buy, three Buys, and one Sell.
• PMV reported a quarterly loss of $0.34 per share, beating estimates of a $0.39 loss. Institutional investors and hedge funds own 90.2% of the company’s stock.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $5.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 303.23% from the company's current price.

Several other brokerages have also recently weighed in on PMVP. Weiss Ratings upgraded PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 12th. Oppenheimer dropped their target price on PMV Pharmaceuticals from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH began coverage on PMV Pharmaceuticals in a report on Wednesday, July 8th. They set a "buy" rating and a $3.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $4.33.

PMV Pharmaceuticals Stock Down 1.6%

Shares of PMVP stock opened at $1.24 on Friday. The company's fifty day simple moving average is $1.25 and its 200-day simple moving average is $1.29. The firm has a market cap of $66.29 million, a PE ratio of -0.87 and a beta of 1.37. PMV Pharmaceuticals has a 12 month low of $1.02 and a 12 month high of $1.88.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.05. On average, equities analysts predict that PMV Pharmaceuticals will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of PMV Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Shay Capital LLC bought a new position in shares of PMV Pharmaceuticals in the 2nd quarter valued at about $26,000. Vanguard Group Inc. raised its holdings in shares of PMV Pharmaceuticals by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,163,027 shares of the company's stock valued at $3,028,000 after purchasing an additional 9,427 shares during the period. Bridgeway Capital Management LLC lifted its stake in PMV Pharmaceuticals by 115.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 320,653 shares of the company's stock valued at $449,000 after purchasing an additional 171,853 shares during the last quarter. Algert Global LLC acquired a new stake in PMV Pharmaceuticals in the 3rd quarter valued at about $87,000. Finally, Boothbay Fund Management LLC acquired a new stake in PMV Pharmaceuticals in the 3rd quarter valued at about $282,000. Institutional investors and hedge funds own 90.20% of the company's stock.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. It's lead product candidate is PC14586, a small molecule that corrects mutant p53 protein containing the Y220C mutation and restores wild-type p53 function. The company was formerly known as PJ Pharmaceuticals, Inc and changed its name to PMV Pharmaceuticals, Inc in July 2013. PMV Pharmaceuticals, Inc was incorporated in 2013 and is based in Princeton, New Jersey.

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