Pharvaris (NASDAQ:PHVS) Trading Up 6.2% on Analyst Upgrade

Key Points

• Pharvaris N.V. shares rose 6.2% to close at $23.54 on a significant trading volume increase, indicating growing investor interest.
• Wall Street analysts have a consensus "Buy" rating for Pharvaris, with an average price target of $35.60, though some firms have lowered their individual targets.
• The company reported a quarterly loss of ($0.94) earnings per share, which was below expected estimates, projecting a challenging fiscal year ahead.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shares shot up 6.2% on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $23.00 and last traded at $23.54. 91,123 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 78,145 shares. The stock had previously closed at $22.16.

Several other brokerages have also weighed in on PHVS. Wedbush reissued an "outperform" rating and issued a $27.00 price objective on shares of Pharvaris in a report on Thursday, June 5th. Cantor Fitzgerald decreased their price objective on Pharvaris from $28.00 to $25.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Guggenheim began coverage on Pharvaris in a report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price objective for the company. Finally, JMP Securities decreased their price objective on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Pharvaris currently has an average rating of "Moderate Buy" and a consensus price target of $35.60.

Hedge Funds Weigh In On Pharvaris

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Pharvaris by 1,125.3% in 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of Pharvaris by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 38,333 shares of the company's stock worth $735,000 after buying an additional 1,356 shares during the period. Legal & General Group Plc lifted its stake in shares of Pharvaris by 11.2% in the 4th quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock valued at $189,000 after acquiring an additional 994 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Pharvaris by 36.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 443,896 shares of the company's stock valued at $8,510,000 after acquiring an additional 118,408 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Pharvaris by 483.9% in the fourth quarter. Northern Trust Corp now owns 91,932 shares of the company's stock worth $1,762,000 after buying an additional 76,188 shares during the period.

Pharvaris Trading Down 1.0%

The company has a market capitalization of $1.21 billion, a P/E ratio of -6.88 and a beta of -2.81. The stock's fifty day moving average is $20.27 and its 200 day moving average is $17.43.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.07). On average, analysts expect that Pharvaris N.V. will post -2.71 EPS for the current fiscal year.

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.