Pharvaris (NASDAQ:PHVS) Coverage Initiated at Guggenheim

Guggenheim began coverage on shares of Pharvaris (NASDAQ:PHVS - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set a "buy" rating and a $32.00 price target on the stock. Guggenheim's target price indicates a potential upside of 87.13% from the stock's current price.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald decreased their target price on Pharvaris from $28.00 to $25.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Wedbush reissued an "outperform" rating and issued a $27.00 price target on shares of Pharvaris in a report on Thursday, June 5th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Pharvaris presently has an average rating of "Buy" and an average target price of $36.20.

Pharvaris Price Performance

PHVS traded up $0.05 during trading hours on Wednesday, hitting $17.10. 3,880 shares of the stock were exchanged, compared to its average volume of 60,339. The stock has a market cap of $894.16 million, a price-to-earnings ratio of -6.11 and a beta of -2.86. The stock has a 50-day simple moving average of $15.75 and a 200-day simple moving average of $17.00. Pharvaris has a 12 month low of $11.51 and a 12 month high of $25.50.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted 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). Sell-side analysts expect that Pharvaris will post -2.71 EPS for the current year.

Hedge Funds Weigh In On Pharvaris

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG grew its stake in shares of Pharvaris by 13.0% in the fourth quarter. Deutsche Bank AG now owns 18,168 shares of the company's stock worth $348,000 after purchasing an additional 2,087 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Pharvaris by 1,125.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock worth $59,000 after purchasing an additional 2,847 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Pharvaris in the fourth quarter worth approximately $64,000. Legal & General Group Plc boosted its stake in Pharvaris by 11.2% during the 4th quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock valued at $189,000 after purchasing an additional 994 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Pharvaris by 30.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,734 shares of the company's stock valued at $1,222,000 after purchasing an additional 14,838 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.