Wedbush Comments on Pharvaris' FY2029 Earnings (NASDAQ:PHVS)

Key Points

• Wedbush lowered its FY2029 earnings per share estimate for Pharvaris from $5.51 to $5.33, while maintaining an "Outperform" rating and a target price of $27.00.
• The company recently reported a quarterly loss of ($0.94) earnings per share, missing analysts' consensus by ($0.07).
• Pharvaris has an average "Buy" rating among five analysts, with an average price target of $35.60.

Pharvaris N.V. (NASDAQ:PHVS - Free Report) - Stock analysts at Wedbush decreased their FY2029 earnings estimates for Pharvaris in a report released on Wednesday, August 13th. Wedbush analyst L. Chico now forecasts that the company will earn $5.33 per share for the year, down from their prior estimate of $5.51. Wedbush has a "Outperform" rating and a $27.00 price objective on the stock. The consensus estimate for Pharvaris' current full-year earnings is ($2.71) per share.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted 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).

A number of other research firms have also recently weighed in on PHVS. Cantor Fitzgerald reduced their price objective on shares of Pharvaris from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. JMP Securities dropped their target price on shares of Pharvaris from $55.00 to $52.00 and set a "market outperform" rating for the company in a report on Wednesday, August 13th. Finally, 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 for the company. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $35.60.

Pharvaris Trading Up 4.6%

NASDAQ:PHVS traded up $1.0150 during trading hours on Thursday, reaching $23.1750. 207,369 shares of the company were exchanged, compared to its average volume of 78,463. The stock's 50-day moving average is $19.80 and its 200-day moving average is $17.26. The firm has a market cap of $1.21 billion, a PE ratio of -6.90 and a beta of -2.81. Pharvaris has a twelve month low of $11.51 and a twelve month high of $26.33.

Institutional Investors Weigh In On Pharvaris

A number of hedge funds have recently modified their holdings of the company. Soleus Capital Management L.P. grew its holdings in shares of Pharvaris by 36.2% in the fourth quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company's stock valued at $15,617,000 after purchasing an additional 216,483 shares during the period. Octagon Capital Advisors LP boosted its stake in Pharvaris by 25.4% during the fourth quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company's stock worth $14,914,000 after buying an additional 157,530 shares during the period. Rock Springs Capital Management LP boosted its stake in Pharvaris by 2.4% during the fourth quarter. Rock Springs Capital Management LP now owns 775,131 shares of the company's stock worth $14,859,000 after buying an additional 18,200 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Pharvaris by 36.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 443,896 shares of the company's stock worth $8,510,000 after buying an additional 118,408 shares during the period. Finally, TFG Asset Management GP Ltd boosted its stake in Pharvaris by 48.1% during the second quarter. TFG Asset Management GP Ltd now owns 188,100 shares of the company's stock worth $3,311,000 after buying an additional 61,105 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.