Wedbush Raises Pharvaris (NASDAQ:PHVS) Price Target to $42.00

Key Points

• Wedbush raised its price target on Pharvaris from $41 to $42 and reiterated an "outperform" rating, implying roughly a 48% upside from the current share price.
• MarketBeat shows a consensus of "Moderate Buy" based on 10 Buys, 2 Holds and 1 Sell, with a consensus price target of $42.80.
• Pharvaris is a clinical‑stage biopharma advancing PHA121, an oral plasma kallikrein inhibitor for prophylactic treatment of hereditary angioedema (HAE), a program that has attracted recent institutional buying.

Pharvaris (NASDAQ:PHVS - Get Free Report) had its price target increased by equities research analysts at Wedbush from $41.00 to $42.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price objective points to a potential upside of 48.04% from the stock's current price.

Other research analysts have also issued research reports about the stock. HC Wainwright restated a "buy" rating and set a $60.00 price target on shares of Pharvaris in a research note on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Pharvaris in a research note on Thursday, January 22nd. Royal Bank Of Canada dropped their price target on shares of Pharvaris from $52.00 to $51.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Wall Street Zen downgraded shares of Pharvaris from a "hold" rating to a "sell" rating in a report on Sunday. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pharvaris has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Pharvaris Stock Down 0.7%

Shares of PHVS opened at $28.37 on Tuesday. The company's fifty day moving average is $27.07 and its 200-day moving average is $25.47. Pharvaris has a 12 month low of $11.51 and a 12 month high of $29.85. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -8.42 and a beta of -2.58.

Institutional Trading of Pharvaris

Several large investors have recently modified their holdings of PHVS. Geode Capital Management LLC boosted its holdings 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 worth $952,000 after buying an additional 15,769 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock worth $59,000 after buying an additional 783 shares during the period. Legal & General Group Plc boosted its holdings in shares of Pharvaris by 17.2% during the 2nd 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 period. Amundi boosted its holdings in shares of Pharvaris by 2,741,600.0% during the 2nd quarter. Amundi now owns 27,417 shares of the company's stock worth $489,000 after buying an additional 27,416 shares during the period. Finally, HighVista Strategies LLC boosted its holdings in shares of Pharvaris by 4.3% during the 2nd quarter. HighVista Strategies LLC now owns 23,739 shares of the company's stock worth $418,000 after buying an additional 971 shares during the period.

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.

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