Pharvaris (NASDAQ:PHVS) Trading Up 8.3% - Should You Buy?

Key Points

• Pharvaris shares rose by 8.3% during trading, reaching a high of $23.70 from a previous close of $21.83.
• Brokerages are positive on Pharvaris, with Wedbush and Guggenheim issuing price targets of $27.00 and $32.00, respectively.
• The company reported a quarterly loss of ($0.94) per share, missing expectations of ($0.87), while analysts anticipate a projected earnings per share of (-2.71) for the fiscal year.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shares shot up 8.3% during mid-day trading on Tuesday . The company traded as high as $23.70 and last traded at $23.65. 85,790 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 83,775 shares. The stock had previously closed at $21.83.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PHVS. Wedbush reaffirmed an "outperform" rating and issued a $27.00 price target on shares of Pharvaris in a report on Thursday, June 5th. Zacks Research raised Pharvaris from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. JMP Securities lowered their price target on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating for the company in a report on Wednesday, August 13th. Finally, Guggenheim began coverage on Pharvaris in a report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price target for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.00.

Pharvaris Stock Down 1.3%

The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -6.90 and a beta of -2.80. The company has a fifty day moving average price of $21.88 and a two-hundred day moving average price of $18.04.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its quarterly earnings data 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). On average, equities analysts anticipate that Pharvaris N.V. will post -2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pharvaris

Several large investors have recently modified their holdings of PHVS. Northern Trust Corp raised its stake in shares of Pharvaris by 483.9% during the fourth quarter. Northern Trust Corp now owns 91,932 shares of the company's stock worth $1,762,000 after purchasing an additional 76,188 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Pharvaris by 205,286.7% during the fourth quarter. Bank of America Corp DE now owns 30,808 shares of the company's stock worth $591,000 after purchasing an additional 30,793 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Pharvaris during the fourth quarter worth approximately $64,000. Deutsche Bank AG raised its stake in shares of Pharvaris by 13.0% during 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 during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Pharvaris during the fourth quarter worth approximately $152,000.

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.