Pharvaris (NASDAQ:PHVS) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised Pharvaris’ price target to $52 from $51 and maintained an “outperform” rating, implying roughly 50% upside from the reported $34.55 share price.
• Analyst sentiment is broadly positive: Pharvaris has a consensus “Moderate Buy” rating and an average price target of $50.33, though one analyst rates the stock a sell.
• The company reported a quarterly loss of $0.81 per share, missing estimates by $0.06. Meanwhile, insiders sold roughly 178,322 shares worth $5.97 million over the past 90 days.

Pharvaris (NASDAQ:PHVS - Get Free Report) had its price target lifted by equities researchers at Royal Bank Of Canada from $51.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 50.48% from the stock's current price.

PHVS has been the topic of a number of other research reports. Citizens Jmp raised their target price on shares of Pharvaris from $74.00 to $75.00 and gave the company a "market outperform" rating in a research note on Thursday. HSBC raised shares of Pharvaris to an "overweight" rating in a research report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Pharvaris in a research report on Friday, July 17th. UBS Group set a $74.00 price objective on Pharvaris in a research note on Wednesday, May 13th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Pharvaris in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.33.

Pharvaris Stock Performance

Shares of NASDAQ:PHVS traded down $1.91 during trading on Thursday, reaching $34.55. 370,723 shares of the stock were exchanged, compared to its average volume of 310,572. The firm's 50-day moving average price is $33.59 and its 200 day moving average price is $30.01. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -10.84 and a beta of -2.31. Pharvaris has a 12-month low of $20.65 and a 12-month high of $36.93.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). As a group, equities research analysts forecast that Pharvaris will post -2.97 EPS for the current year.

Insiders Place Their Bets

In other Pharvaris news, insider Anne Lesage sold 30,703 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total value of $1,089,649.47. Following the completion of the transaction, the insider directly owned 93,969 shares of the company's stock, valued at $3,334,959.81. This represents a 24.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Wim Souverijns sold 10,000 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $29.92, for a total value of $299,200.00. Following the sale, the insider owned 45,111 shares of the company's stock, valued at $1,349,721.12. This represents a 18.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 178,322 shares of company stock valued at $5,969,286. Corporate insiders own 11.84% of the company's stock.

Institutional Investors Weigh In On Pharvaris

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Pharvaris by 41.1% during the 2nd quarter. Geode Capital Management LLC now owns 54,102 shares of the company's stock valued at $952,000 after buying an additional 15,769 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 783 shares in the last quarter. Legal & General Group Plc increased its stake in shares of 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 buying an additional 1,695 shares during the last quarter. Amundi increased its stake in shares of Pharvaris by 2,741,600.0% in the second quarter. Amundi now owns 27,417 shares of the company's stock worth $489,000 after buying an additional 27,416 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings 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 acquiring an additional 7,879 shares in the last quarter.

Pharvaris Company Profile

Pharvaris is a clinical-stage biopharmaceutical company focused on discovering and developing novel oral therapies for rare bradykinin-driven diseases. The company's core mission is to address conditions characterized by uncontrolled activation of the plasma kallikrein-kinin system, with a primary emphasis on hereditary angioedema (HAE), a debilitating disorder marked by recurrent swelling episodes.

The company's lead program, PHA121, is an investigational once-daily oral plasma kallikrein inhibitor designed for prophylactic treatment of HAE and is advancing through clinical trials.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source