Pharvaris (NASDAQ:PHVS) Receives Consensus Recommendation of "Buy" from Brokerages

Pharvaris (NASDAQ:PHVS - Get Free Report) has received a consensus rating of "Buy" from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $36.20.

PHVS has been the subject of several analyst reports. Guggenheim initiated coverage on shares of Pharvaris in a report on Wednesday. They issued a "buy" rating and a $32.00 target price for the company. Cantor Fitzgerald lowered their target price on shares of Pharvaris from $28.00 to $25.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Finally, Wedbush restated an "outperform" rating and issued a $27.00 target price on shares of Pharvaris in a report on Thursday, June 5th.

Pharvaris Stock Down 3.1%

Pharvaris stock traded down $0.53 during mid-day trading on Wednesday, reaching $16.70. 12,409 shares of the company's stock traded hands, compared to its average volume of 74,118. The company has a market cap of $873.24 million, a price-to-earnings ratio of -5.96 and a beta of -2.86. The stock has a 50 day moving average of $15.93 and a two-hundred day moving average of $16.87. Pharvaris has a 12-month low of $11.51 and a 12-month high of $25.50.

Pharvaris (NASDAQ:PHVS - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.09). As a group, sell-side analysts forecast that Pharvaris will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Pharvaris

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Pharvaris by 1,125.3% in the 4th 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 period. Cubist Systematic Strategies LLC purchased a new position in Pharvaris in the 4th quarter worth about $64,000. KLP Kapitalforvaltning AS purchased a new position in Pharvaris in the 4th quarter worth about $111,000. Point72 Asset Management L.P. purchased a new position in Pharvaris in the 4th quarter worth about $152,000. Finally, Legal & General Group Plc increased its stake in Pharvaris by 11.2% in the 4th quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock worth $189,000 after buying an additional 994 shares during the period.

About Pharvaris

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.