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

Key Points

• PMV Pharmaceuticals has a “Moderate Buy” consensus rating from five analysts: three buys, one strong buy, and one sell. The average 12-month price target is $4.33, well above the stock’s reported $1.36 price.
• Institutional investors own approximately 90.2% of PMVP’s shares, with several hedge funds and investment firms recently initiating positions.
• PMV reported a quarterly loss of $0.34 per share, beating analysts’ expected loss of $0.39. Its lead oncology candidate, rezatapopt, is being tested in patients with solid tumors carrying the p53 Y220C mutation.

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five research firms that are covering the company, MarketBeat.com 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 price target among brokerages that have issued ratings on the stock in the last year is $4.33.

PMVP has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and issued a $5.00 target price on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. Weiss Ratings upgraded PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday. Finally, LADENBURG THALM/SH SH initiated coverage on PMV Pharmaceuticals in a report on Wednesday, July 8th. They issued a "buy" rating and a $3.00 price objective on the stock.

Hedge Funds Weigh In On PMV Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Eversept Partners LP purchased a new stake in PMV Pharmaceuticals in the 1st quarter worth approximately $2,912,000. BlackRock Inc. purchased a new stake in PMV Pharmaceuticals during the second quarter worth $1,233,000. Stonepine Capital Management LLC purchased a new stake in PMV Pharmaceuticals during the second quarter worth $718,355. Walleye Capital LLC acquired a new stake in PMV Pharmaceuticals during the second quarter valued at $450,000. Finally, Bank of America Corp DE acquired a new stake in PMV Pharmaceuticals during the second quarter valued at $322,000. Institutional investors and hedge funds own 90.20% of the company's stock.

PMV Pharmaceuticals Trading Up 2.3%

Shares of PMV Pharmaceuticals stock opened at $1.36 on Tuesday. The firm's 50 day simple moving average is $1.29 and its two-hundred day simple moving average is $1.30. The firm has a market capitalization of $72.71 million, a price-to-earnings ratio of -0.96 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 posted its quarterly earnings data on Friday, August 14th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.05. On average, sell-side analysts predict that PMV Pharmaceuticals will post -1.26 EPS for the current fiscal year.

PMV Pharmaceuticals Company Profile

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-driving genetic mutations. The company uses its proprietary research platform to discover and develop small-molecule medicines designed to restore the activity of mutated tumor-suppressor proteins.

PMV's lead product candidate is rezatapopt (PC14586), an oral small-molecule therapy designed to reactivate the p53 protein when it carries the Y220C mutation. The candidate is being evaluated in patients with advanced solid tumors harboring this specific mutation, including through the company's PYNNACLE clinical trial.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals focuses on oncology drug discovery and clinical development.

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