Pharvaris (NASDAQ:PHVS) Upgraded to Hold at Zacks Research

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 investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. JMP Securities dropped their target price on shares of Pharvaris from $55.00 to $52.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 13th. Guggenheim started coverage on shares of Pharvaris in a report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and issued a $27.00 target price on shares of Pharvaris in a report on Thursday, June 5th. Finally, Cantor Fitzgerald lowered their price target 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. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.60.

Pharvaris Stock Performance

Shares of NASDAQ:PHVS opened at $23.3350 on Monday. The company has a market cap of $1.22 billion, a P/E ratio of -6.82 and a beta of -2.81. The stock's 50-day moving average is $19.90 and its 200-day moving average is $17.31. Pharvaris has a 52-week low of $11.51 and a 52-week high of $26.33.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.07). As a group, equities analysts predict that Pharvaris will post -2.71 EPS for the current year.

Institutional Trading of Pharvaris

Several hedge funds have recently added to or reduced their stakes in PHVS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Pharvaris by 30.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,734 shares of the company's stock valued at $1,222,000 after purchasing an additional 14,838 shares during the period. Deutsche Bank AG grew its stake in Pharvaris by 13.0% in the 4th quarter. Deutsche Bank AG now owns 18,168 shares of the company's stock worth $348,000 after buying an additional 2,087 shares in the last quarter. Bank of America Corp DE grew its stake in Pharvaris by 205,286.7% in the 4th quarter. Bank of America Corp DE now owns 30,808 shares of the company's stock worth $591,000 after buying an additional 30,793 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Pharvaris by 1,125.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock worth $59,000 after buying an additional 2,847 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Pharvaris in the 4th quarter worth approximately $64,000.

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.

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