Pharvaris (NASDAQ:PHVS) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• Pharvaris reported a quarterly loss of ($0.94) EPS, which missed the consensus estimate of ($0.87) EPS by ($0.07).
• Despite the earnings miss, Pharvaris shares gained $0.25, reaching a midday trading price of $21.09 with a 1-year high of $26.33.
• Five analysts rated Pharvaris stock with a buy rating, and the average price target is set at $36.20.

Pharvaris (NASDAQ:PHVS - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.07), Zacks reports.

Pharvaris Price Performance

PHVS traded down $0.69 during trading hours on Friday, reaching $22.30. The company's stock had a trading volume of 167,398 shares, compared to its average volume of 192,452. Pharvaris has a fifty-two week low of $11.51 and a fifty-two week high of $26.33. The stock has a market cap of $1.17 billion, a PE ratio of -6.64 and a beta of -2.81. The business's 50-day moving average is $19.71 and its 200-day moving average is $17.24.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PHVS. JPMorgan Chase & Co. raised its stake in shares of 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. Legal & General Group Plc raised its stake in shares of Pharvaris by 17.2% in the second quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock valued at $203,000 after acquiring an additional 1,695 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Pharvaris by 9.8% in the second quarter. California State Teachers Retirement System now owns 14,048 shares of the company's stock valued at $247,000 after acquiring an additional 1,257 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Pharvaris in the second quarter valued at $285,000. Finally, Amundi raised its stake in shares of Pharvaris by 2,741,600.0% in the second quarter. Amundi now owns 27,417 shares of the company's stock valued at $489,000 after acquiring an additional 27,416 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JMP Securities cut their price target on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating for the company in a research note on Wednesday. Cantor Fitzgerald dropped their price target on Pharvaris from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Wedbush restated an "outperform" rating and issued a $27.00 price target on shares of Pharvaris in a research report on Thursday, June 5th. Finally, Guggenheim initiated coverage on Pharvaris in a research report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pharvaris has a consensus rating of "Buy" and an average target price of $35.60.

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.