Pharvaris (NASDAQ:PHVS) Trading 8.3% Higher - 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) shot up 8.3% during 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.

Wall Street Analysts Forecast Growth

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

Pharvaris Price Performance

The stock's 50 day moving average is $21.88 and its two-hundred day moving average is $18.04. The stock has a market capitalization of $1.21 billion, a PE ratio of -6.90 and a beta of -2.80.

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

Institutional Trading of Pharvaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Palumbo Wealth Management LLC raised its holdings in Pharvaris by 3.2% during the second quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company's stock worth $256,000 after purchasing an additional 447 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Pharvaris by 30.6% during 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% during 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 grew its position in shares of Pharvaris by 9.8% during the second quarter. California State Teachers Retirement System now owns 14,048 shares of the company's stock worth $247,000 after acquiring an additional 1,257 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Pharvaris by 17.2% in the 2nd 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 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.