Pharvaris (NASDAQ:PHVS) Shares Gap Up - Time to Buy?

Key Points

• Pharvaris shares saw a significant gap up, opening at $22.12 after a previous close of $20.96, signaling increased investor interest.
• Wall Street analysts have mixed ratings on Pharvaris, with one firm upgrading the stock to a "buy" rating and a price target of $60.00, while others maintain "sell" or "hold" ratings, indicating a consensus rating of "Moderate Buy".
• The company reported a quarterly loss of ($0.94) earnings per share, missing the consensus estimate, and analysts forecast -2.71 earnings per share for the current year.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $20.96, but opened at $22.12. Pharvaris shares last traded at $21.76, with a volume of 117,275 shares changing hands.

Wall Street Analysts Forecast Growth

PHVS has been the topic of several recent research reports. JMP Securities lowered their price objective on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Pharvaris in a research report on Wednesday, October 8th. HC Wainwright started coverage on Pharvaris in a research report on Wednesday. They set a "buy" rating and a $60.00 price objective on the stock. Zacks Research upgraded Pharvaris from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Bank of America upgraded Pharvaris from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $16.00 to $27.00 in a research report on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Pharvaris presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.17.

Pharvaris Price Performance

The company has a market capitalization of $1.14 billion, a P/E ratio of -6.54 and a beta of -2.77. The company has a fifty day moving average price of $22.97 and a two-hundred day moving average price of $19.25.

Pharvaris (NASDAQ:PHVS - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.07). As a group, sell-side analysts forecast that Pharvaris N.V. will post -2.71 earnings per share 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 stock. Boothbay Fund Management LLC acquired a new position in Pharvaris in the second quarter valued at approximately $285,000. California State Teachers Retirement System lifted its stake in 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 buying an additional 1,257 shares during the period. TFG Asset Management GP Ltd lifted its stake in Pharvaris by 48.1% in the second quarter. TFG Asset Management GP Ltd now owns 188,100 shares of the company's stock valued at $3,311,000 after buying an additional 61,105 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Pharvaris by 19.2% in the second quarter. The Manufacturers Life Insurance Company now owns 48,857 shares of the company's stock valued at $860,000 after buying an additional 7,879 shares during the period. Finally, HighVista Strategies LLC lifted its stake in Pharvaris by 4.3% in the second quarter. HighVista Strategies LLC now owns 23,739 shares of the company's stock valued at $418,000 after buying an additional 971 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.

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