PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate PMV Pharmaceuticals “Moderate Buy.” Of five covering firms, three recommend buying, one recommends a strong buy, and one rates the stock a sell; the average 12-month price target is $4.33 versus a recent price of $1.24.
• Institutional ownership stands at 90.20%. Several hedge funds recently initiated or increased positions, including Squarepoint Ops, which more than doubled its stake, and the Public Employees Retirement System of Ohio, which increased its holdings by nearly 350%.
• PMV reported a quarterly loss of $0.34 per share, beating the consensus estimate of a $0.39 loss. Analysts expect the company to report a full-year loss of approximately $1.38 per share.

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report) have been given an average rating of "Moderate Buy" by the five ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.3333.

Several research firms have weighed in on PMVP. Weiss Ratings upgraded shares of PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 12th. HC Wainwright reissued a "buy" rating and set a $5.00 price target on shares of PMV Pharmaceuticals in a report on Friday. LADENBURG THALM/SH SH initiated coverage on PMV Pharmaceuticals in a research note on Wednesday, July 8th. They issued a "buy" rating and a $3.00 price objective on the stock. Finally, Oppenheimer reduced their target price on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th.

Hedge Funds Weigh In On PMV Pharmaceuticals

A number of hedge funds have recently made changes to their positions in PMVP. Shay Capital LLC bought a new stake in PMV Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Squarepoint Ops LLC boosted its stake in PMV Pharmaceuticals by 101.8% in the 4th quarter. Squarepoint Ops LLC now owns 26,502 shares of the company's stock worth $33,000 after purchasing an additional 13,367 shares during the period. Public Employees Retirement System of Ohio boosted its stake in PMV Pharmaceuticals by 349.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company's stock worth $34,000 after purchasing an additional 21,334 shares during the period. Hsbc Holdings PLC purchased a new stake in PMV Pharmaceuticals during the 2nd quarter valued at approximately $41,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in PMV Pharmaceuticals during the 2nd quarter valued at approximately $43,000. Institutional investors own 90.20% of the company's stock.

PMV Pharmaceuticals Price Performance

PMVP stock opened at $1.24 on Friday. PMV Pharmaceuticals has a 1 year low of $1.02 and a 1 year high of $1.88. The company has a market cap of $66.29 million, a P/E ratio of -0.87 and a beta of 1.37. The stock's fifty day moving average price is $1.25 and its 200-day moving average price is $1.29.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last posted 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. As a group, analysts expect that PMV Pharmaceuticals will post -1.38 earnings per share for the current year.

PMV Pharmaceuticals Company Profile

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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