Pharvaris (NASDAQ:PHVS) Given New $52.00 Price Target at JMP Securities

Key Points

• JMP Securities has lowered Pharvaris' price target from $55.00 to $52.00, while maintaining a "market outperform" rating, suggesting a potential upside of 142.71% from the stock's previous close.
• Other brokerages, including Cantor Fitzgerald and Wedbush, have also adjusted their price targets for Pharvaris, with a consensus average target of $35.60 and a majority rating of "Buy."
• Pharvaris reported a quarterly EPS of ($0.89), which missed analysts' expectations, and the company focuses on developing therapies for rare diseases, particularly hereditary angioedema.

Pharvaris (NASDAQ:PHVS - Get Free Report) had its price objective reduced by stock analysts at JMP Securities from $55.00 to $52.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price objective would indicate a potential upside of 133.18% from the stock's current price.

A number of other research analysts also recently commented on PHVS. Guggenheim initiated coverage on Pharvaris in a research note on Wednesday, June 11th. They issued a "buy" rating and a $32.00 target price on the stock. Cantor Fitzgerald lowered their target price on Pharvaris from $28.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $27.00 price target on shares of Pharvaris in a research report on Thursday, June 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pharvaris currently has a consensus rating of "Buy" and a consensus target price of $35.60.

Pharvaris Trading Down 3.0%

NASDAQ PHVS traded down $0.69 on Wednesday, reaching $22.30. The stock had a trading volume of 167,398 shares, compared to its average volume of 192,452. The business has a 50 day moving average price of $19.71 and a 200 day moving average price of $17.24. Pharvaris has a 1 year low of $11.51 and a 1 year high of $26.33. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.64 and a beta of -2.81.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.07). On average, analysts anticipate that Pharvaris will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Pharvaris

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Pharvaris by 1,125.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock worth $59,000 after buying an additional 2,847 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Pharvaris during the 2nd quarter worth about $57,000. Cubist Systematic Strategies LLC acquired a new position in shares of Pharvaris during the 4th quarter worth about $64,000. Point72 Asset Management L.P. acquired a new position in shares of Pharvaris during the 4th quarter worth about $152,000. Finally, Legal & General Group Plc lifted its position in shares of Pharvaris by 11.2% during the 4th quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock worth $189,000 after purchasing an additional 994 shares during the last quarter.

Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.