Analysts Set PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Target Price at $4.33

Key Points

• Analysts maintain a “Moderate Buy” consensus on PMV Pharmaceuticals, with three buy ratings, one strong buy, and one sell. The average 12-month price target is $4.33, well above the stock’s recent price of $1.29.
• Recent coverage includes HC Wainwright reaffirming a $5.00 buy target, while Oppenheimer lowered its target from $6.00 to $5.00 but kept an outperform rating. Ladenburg Thalmann initiated coverage with a buy rating and a $3.00 target.
• PMV reported a quarterly loss of $0.34 per share, beating the consensus estimate of a $0.39 loss. Institutional investors and hedge funds own approximately 90.2% of the company’s stock.

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.3333.

PMVP has been the topic of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $5.00 price target on shares of PMV Pharmaceuticals in a report on Friday. Weiss Ratings upgraded shares of PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 12th. Oppenheimer dropped their price target on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH began coverage on shares of PMV Pharmaceuticals in a research note on Wednesday, July 8th. They set a "buy" rating and a $3.00 price target on the stock.

PMV Pharmaceuticals Stock Performance

Shares of NASDAQ:PMVP traded up $0.05 during trading on Friday, reaching $1.29. The company had a trading volume of 291,553 shares, compared to its average volume of 480,213. The firm's fifty day moving average is $1.25 and its 200 day moving average is $1.29. The firm has a market capitalization of $68.70 million, a PE ratio of -0.90 and a beta of 1.37. PMV Pharmaceuticals has a twelve month low of $1.02 and a twelve 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) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.05. Equities analysts predict that PMV Pharmaceuticals will post -1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Shay Capital LLC acquired a new position in shares of PMV Pharmaceuticals during the 2nd quarter worth $26,000. Squarepoint Ops LLC boosted its holdings in shares of PMV Pharmaceuticals by 101.8% during the 4th quarter. Squarepoint Ops LLC now owns 26,502 shares of the company's stock worth $33,000 after buying an additional 13,367 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of PMV Pharmaceuticals by 349.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company's stock worth $34,000 after buying an additional 21,334 shares during the period. Hsbc Holdings PLC bought a new stake in shares of PMV Pharmaceuticals during the 2nd quarter worth $41,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PMV Pharmaceuticals during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 90.20% of the company's stock.

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.