Pharvaris (NASDAQ:PHVS) Raised to Neutral at Bank of America

Key Points

• Pharvaris has been upgraded from an "underperform" to a "neutral" rating by Bank of America, with a new price target of $27.00, indicating a potential upside of 17.49% from its current price.
• The company missed its quarterly earnings estimate, reporting a loss of ($0.94) EPS, falling short of the consensus estimate of ($0.87).
• Currently, Pharvaris has a consensus rating of "Hold" from analysts, with an average target price of $32.60.

Pharvaris (NASDAQ:PHVS - Get Free Report) was upgraded by investment analysts at Bank of America from an "underperform" rating to a "neutral" rating in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a $27.00 price target on the stock, up from their prior price target of $16.00. Bank of America's target price indicates a potential upside of 17.49% from the stock's current price.

Several other analysts also recently weighed in on the company. Zacks Research upgraded Pharvaris from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. JMP Securities decreased their price objective on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating for the company in a report on Wednesday, August 13th. Guggenheim started coverage on shares of Pharvaris in a research report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Pharvaris in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $32.60.

Pharvaris Trading Up 2.4%

Shares of NASDAQ PHVS opened at $22.98 on Thursday. Pharvaris has a 12 month low of $11.51 and a 12 month high of $26.33. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.84 and a beta of -2.77. The business has a 50-day moving average of $22.86 and a 200-day moving average of $19.05.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.07). On average, analysts predict that Pharvaris will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Pharvaris

A number of large investors have recently bought and sold shares of the business. Palumbo Wealth Management LLC boosted its holdings in Pharvaris by 3.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company's stock valued at $256,000 after acquiring an additional 447 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 worth $59,000 after purchasing an additional 783 shares in the last quarter. HighVista Strategies LLC raised its holdings in Pharvaris by 4.3% in the second quarter. HighVista Strategies LLC now owns 23,739 shares of the company's stock worth $418,000 after purchasing an additional 971 shares in the last quarter. California State Teachers Retirement System raised its holdings in Pharvaris by 9.8% in the second quarter. California State Teachers Retirement System now owns 14,048 shares of the company's stock worth $247,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Pharvaris by 17.2% in the second quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock worth $203,000 after purchasing an additional 1,695 shares in the last quarter.

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.

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