Pharvaris (NASDAQ:PHVS) Given New $75.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP raised Pharvaris’ price target to $75 from $74 while maintaining a “market outperform” rating, implying 111.54% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average target price of $50.25, although some firms maintain sell ratings.
• Pharvaris shares recently traded at $35.45 after the company reported a quarterly loss of $0.81 per share, missing estimates by $0.06; insiders have also sold roughly 178,322 shares over the past quarter.

Pharvaris (NASDAQ:PHVS - Get Free Report) had its target price increased by research analysts at Citizens Jmp from $74.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price target would indicate a potential upside of 111.54% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group set a $74.00 price objective on Pharvaris in a research note on Wednesday, May 13th. HC Wainwright reissued a "buy" rating on shares of Pharvaris in a research note on Tuesday, June 16th. Guggenheim restated a "buy" rating and set a $40.00 target price on shares of Pharvaris in a report on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of Pharvaris in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Pharvaris from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.25.

Pharvaris Price Performance

Shares of PHVS stock traded down $1.00 during trading hours on Thursday, hitting $35.45. The company had a trading volume of 99,594 shares, compared to its average volume of 308,662. The stock has a market capitalization of $2.32 billion, a PE ratio of -11.16 and a beta of -2.31. The company's fifty day moving average is $33.59 and its 200 day moving average is $30.01. Pharvaris has a fifty-two week low of $20.65 and a fifty-two week high of $36.93.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Equities analysts forecast that Pharvaris will post -2.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Elisabeth Bjork sold 10,000 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $29.32, for a total transaction of $293,200.00. Following the sale, the director owned 15,167 shares of the company's stock, valued at approximately $444,696.44. This represents a 39.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wim Souverijns sold 10,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $29.92, for a total value of $299,200.00. Following the completion of the sale, the insider owned 45,111 shares in the company, valued at approximately $1,349,721.12. The trade was a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 178,322 shares of company stock valued at $5,969,286. Corporate insiders own 11.84% of the company's stock.

Institutional Investors Weigh In On Pharvaris

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in shares of Pharvaris by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 23,982 shares of the company's stock worth $666,000 after buying an additional 520 shares during the period. JPMorgan Chase & Co. raised its holdings in Pharvaris by 30.6% in the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock valued at $59,000 after acquiring an additional 783 shares in the last quarter. Quantbot Technologies LP purchased a new position in Pharvaris in the second quarter worth approximately $41,000. GF Fund Management CO. LTD. purchased a new position in Pharvaris in the fourth quarter worth approximately $35,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Pharvaris by 20.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company's stock worth $210,000 after acquiring an additional 1,300 shares in the last quarter.

About Pharvaris

Pharvaris is a clinical-stage biopharmaceutical company focused on discovering and developing novel oral therapies for rare bradykinin-driven diseases. The company's core mission is to address conditions characterized by uncontrolled activation of the plasma kallikrein-kinin system, with a primary emphasis on hereditary angioedema (HAE), a debilitating disorder marked by recurrent swelling episodes.

The company's lead program, PHA121, is an investigational once-daily oral plasma kallikrein inhibitor designed for prophylactic treatment of HAE and is advancing through clinical trials.

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