Royal Bank Of Canada Has Lowered Expectations for Pharvaris (NASDAQ:PHVS) Stock Price

Key Points

• Royal Bank of Canada lowered its price target for Pharvaris from $52 to $51 but kept an "outperform" rating, implying roughly a 79% upside from the prior close.
• Analyst consensus is mixed but leans positive: 10 Buys, 2 Holds and 1 Sell, with an average rating of Moderate Buy and an average target price of $41.60.
• Shares trade near $28.49 (12‑month range $11.51–$29.85) after Pharvaris missed quarterly EPS estimates (loss of $0.83 vs. -$0.69), and the company has a market cap of about $1.55 billion.

Pharvaris (NASDAQ:PHVS - Get Free Report) had its target price decreased by analysts at Royal Bank Of Canada from $52.00 to $51.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 79.00% from the company's previous close.

A number of other brokerages also recently weighed in on PHVS. Weiss Ratings reiterated a "sell (d-)" rating on shares of Pharvaris in a research report on Thursday, January 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 price target on shares of Pharvaris in a report on Tuesday, March 3rd. Finally, Wall Street Zen lowered Pharvaris from a "hold" rating to a "sell" rating in a report on Sunday. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.60.

Pharvaris Trading Down 0.2%

Shares of PHVS stock opened at $28.49 on Monday. Pharvaris has a twelve month low of $11.51 and a twelve month high of $29.85. The stock has a 50 day moving average of $27.05 and a 200 day moving average of $25.44. The stock has a market cap of $1.55 billion, a P/E ratio of -8.44 and a beta of -2.58.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its earnings results on Monday, April 6th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.14). On average, research analysts predict that Pharvaris will post -2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds have recently made changes to their positions in the company. Seven Fleet Capital Management LP purchased a new position in shares of Pharvaris in the fourth quarter valued at approximately $1,536,000. XTX Topco Ltd lifted its holdings in Pharvaris by 126.1% in the 4th quarter. XTX Topco Ltd now owns 18,568 shares of the company's stock valued at $515,000 after purchasing an additional 10,355 shares in the last quarter. Ikarian Capital LLC boosted its stake in Pharvaris by 131.7% during the 4th quarter. Ikarian Capital LLC now owns 486,856 shares of the company's stock worth $13,510,000 after purchasing an additional 276,691 shares during the last quarter. Virtus Investment Advisers LLC boosted its stake in Pharvaris by 66.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 11,011 shares of the company's stock worth $306,000 after purchasing an additional 4,407 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new stake in shares of Pharvaris during the fourth quarter worth $634,000.

About Pharvaris

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.

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