Zacks Research Upgrades Pharvaris (NASDAQ:PHVS) to "Hold"

Key Points

• Pharvaris (NASDAQ:PHVS) has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment.
• The company's shares opened at $23.33 and currently hold a market cap of $1.22 billion with a 52-week high of $26.33.
• Pharvaris reported a quarterly loss of ($0.94) EPS, which missed analyst expectations, raising concerns about its financial performance.

Pharvaris (NASDAQ:PHVS - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday, August 18th,Zacks.com reports.

A number of other research analysts also recently issued reports on PHVS. JMP Securities reduced their price objective 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 assumed coverage on shares of Pharvaris in a report on Wednesday, June 11th. They set a "buy" rating and a $32.00 target price on the stock. Cantor Fitzgerald dropped their target price on shares of Pharvaris from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Finally, Wedbush restated an "outperform" rating and set a $27.00 target price on shares of Pharvaris in a report on Thursday, June 5th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.60.

Pharvaris Price Performance

Pharvaris stock traded up $0.7950 during mid-day trading on Monday, reaching $23.9150. 75,243 shares of the company traded hands, compared to its average volume of 80,507. The firm's 50 day moving average price is $20.27 and its 200 day moving average price is $17.42. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.12 and a beta of -2.81. Pharvaris has a 52-week low of $11.51 and a 52-week high of $26.33.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts anticipate that Pharvaris will post -2.71 EPS for the current year.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds have recently bought and sold shares of the company. Palumbo Wealth Management LLC lifted its stake in Pharvaris by 3.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company's stock valued at $256,000 after acquiring an additional 447 shares during the period. JPMorgan Chase & Co. lifted its stake in Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock valued at $59,000 after acquiring an additional 783 shares during the period. HighVista Strategies LLC lifted its stake in Pharvaris by 4.3% during the 2nd quarter. HighVista Strategies LLC now owns 23,739 shares of the company's stock valued at $418,000 after acquiring an additional 971 shares during the period. Legal & General Group Plc lifted its stake in Pharvaris by 11.2% during 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 period. Finally, California State Teachers Retirement System lifted its stake in Pharvaris by 9.8% during the 2nd quarter. California State Teachers Retirement System now owns 14,048 shares of the company's stock valued at $247,000 after acquiring an additional 1,257 shares during the period.

Pharvaris Company Profile

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.