Pharvaris (NASDAQ:PHVS) Hits New 12-Month High - What's Next?

Key Points

• Pharvaris shares reached a new 52-week high of $36.93, with the stock recently trading near $36.59 and a market capitalization of approximately $2.4 billion.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $51.08; recent targets range from $40 to $75.
• The company reported a quarterly loss of $0.81 per share, missing expectations by $0.06. Pharvaris is developing oral therapies for hereditary angioedema, led by its once-daily investigational drug PHA121.

Shares of Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $36.93 and last traded at $36.59, with a volume of 22959 shares trading hands. The stock had previously closed at $36.39.

Analyst Ratings Changes

A number of research firms have recently commented on PHVS. Morgan Stanley lifted their price objective on Pharvaris from $41.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Citizens Jmp increased their target price on Pharvaris from $74.00 to $75.00 and gave the company a "market outperform" rating in a research note on Thursday, August 13th. Guggenheim raised their target price on Pharvaris from $39.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, August 13th. UBS Group set a $74.00 price target on Pharvaris in a research report on Wednesday, May 13th. Finally, New Street Research set a $60.00 price target on Pharvaris in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.08.

Pharvaris Price Performance

The firm has a market cap of $2.40 billion, a P/E ratio of -12.03 and a beta of -2.31. The company's 50 day moving average is $34.06 and its two-hundred day moving average is $30.35.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Research analysts predict that Pharvaris N.V. will post -3.15 EPS for the current year.

Insider Buying and Selling at Pharvaris

In related news, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total value of $1,089,968.88. Following the sale, the director owned 315,167 shares of the company's stock, valued at $11,185,276.83. The trade was a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anne Lesage sold 30,703 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total transaction of $1,089,649.47. Following the completion of the sale, the insider directly owned 93,969 shares in the company, valued at approximately $3,334,959.81. The trade was a 24.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 121,325 shares of company stock valued at $4,270,425 in the last 90 days. Insiders own 11.84% of the company's stock.

Institutional Trading of Pharvaris

Several institutional investors have recently bought and sold shares of PHVS. venBio Partners LLC acquired a new position in Pharvaris during the second quarter worth $160,569,809,000. Deerfield Management Company L.P. increased its holdings in shares of Pharvaris by 21.1% during the third quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company's stock worth $60,939,000 after buying an additional 425,000 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Pharvaris by 12.9% in the second quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company's stock valued at $82,748,000 after acquiring an additional 274,034 shares during the last quarter. Commodore Capital LP raised its stake in shares of Pharvaris by 1.6% in the first quarter. Commodore Capital LP now owns 1,918,970 shares of the company's stock valued at $54,211,000 after acquiring an additional 29,525 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its holdings in shares of Pharvaris by 72.7% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company's stock worth $45,796,000 after acquiring an additional 772,583 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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