PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Stock Has Average Price Target of $4.33 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on PMV Pharmaceuticals, with three buy ratings, one strong buy, and one sell rating. The average 12-month price target is $4.33, well above the reported share price of $1.27.
• Institutional investors and hedge funds own approximately 90.2% of PMVP shares, with several firms recently establishing new positions, including Eversept Partners, BlackRock, and Stonepine Capital Management.
• PMV Pharmaceuticals is a clinical-stage cancer biotechnology company developing precision medicines targeting mutated p53 proteins. Its lead candidate, rezatapopt, is designed to reactivate the Y220C mutation of p53; the company reported a quarterly loss of $0.34 per share, beating estimates of $0.39.

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report) have received an average rating of "Moderate Buy" from the five research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.33.

Several brokerages have commented on PMVP. Weiss Ratings upgraded shares of PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 24th. HC Wainwright reiterated a "buy" rating and issued a $5.00 price objective on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of PMV Pharmaceuticals in a research note on Wednesday, July 8th. They issued a "buy" rating and a $3.00 price objective on the stock.

Institutional Investors Weigh In On PMV Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eversept Partners LP purchased a new stake in shares of PMV Pharmaceuticals in the first quarter worth about $2,912,000. BlackRock Inc. acquired a new stake in PMV Pharmaceuticals during the second quarter worth about $1,233,000. Stonepine Capital Management LLC purchased a new position in PMV Pharmaceuticals during the second quarter valued at approximately $718,355. Hsbc Holdings PLC purchased a new position in PMV Pharmaceuticals during the second quarter valued at approximately $41,000. Finally, Cooper Haims Advisors LLC purchased a new position in PMV Pharmaceuticals during the second quarter valued at approximately $52,000. 90.20% of the stock is owned by institutional investors and hedge funds.

PMV Pharmaceuticals Stock Down 2.7%

Shares of NASDAQ:PMVP traded down $0.04 during trading on Friday, hitting $1.27. The stock had a trading volume of 170,992 shares, compared to its average volume of 827,223. PMV Pharmaceuticals has a 12-month low of $1.02 and a 12-month high of $1.91. The stock has a market capitalization of $67.89 million, a price-to-earnings ratio of -0.89 and a beta of 1.36. The stock has a 50-day simple moving average of $1.38 and a two-hundred day simple moving average of $1.30.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.05. As a group, sell-side analysts forecast that PMV Pharmaceuticals will post -1.26 earnings per share for the current year.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancer. The company's research centers on p53, a tumor-suppressor protein that is frequently altered in cancer, with the goal of developing therapies that restore the protein's function in tumors containing specific p53 mutations.

PMV's lead investigational product is rezatapopt (also known as PC14586), an orally administered small-molecule therapy designed to selectively reactivate the Y220C mutation of p53.

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