Pharvaris (NASDAQ:PHVS) Coverage Initiated by Analysts at Royal Bank Of Canada

Investment analysts at Royal Bank Of Canada initiated coverage on shares of Pharvaris (NASDAQ:PHVS) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $52.00 price target on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 99.96% from the stock’s previous close.

A number of other research firms also recently commented on PHVS. Morgan Stanley boosted their target price on shares of Pharvaris from $37.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Oppenheimer increased their price objective on Pharvaris from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Guggenheim lifted their target price on Pharvaris from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Bank of America upped their target price on Pharvaris from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Finally, Citigroup reissued a “market outperform” rating on shares of Pharvaris in a research note on Wednesday, November 19th. Ten 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.70.

Pharvaris Trading Up 0.4%

PHVS stock traded up $0.10 during trading hours on Monday, hitting $26.01. 18,288 shares of the stock traded hands, compared to its average volume of 153,451. The stock has a 50-day simple moving average of $26.74 and a 200 day simple moving average of $24.89. Pharvaris has a one year low of $11.51 and a one year high of $29.80. The company has a market cap of $1.36 billion, a P/E ratio of -8.10 and a beta of -2.78.

Institutional Trading of Pharvaris

Several hedge funds and other institutional investors have recently modified their holdings of the company. TFG Asset Management GP Ltd increased its position in Pharvaris by 48.1% in the 2nd quarter. TFG Asset Management GP Ltd now owns 188,100 shares of the company’s stock worth $3,311,000 after purchasing an additional 61,105 shares during the last quarter. Patient Square Capital LP grew its stake in shares of Pharvaris by 41.4% in the 3rd quarter. Patient Square Capital LP now owns 345,381 shares of the company’s stock valued at $8,617,000 after buying an additional 101,098 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Pharvaris in the third quarter worth approximately $75,000. HighVista Strategies LLC raised its position in Pharvaris by 4.3% during the second quarter. HighVista Strategies LLC now owns 23,739 shares of the company’s stock valued at $418,000 after acquiring an additional 971 shares in the last quarter. Finally, Novo Holdings A S raised its position in Pharvaris by 1.4% during the third quarter. Novo Holdings A S now owns 1,750,000 shares of the company’s stock valued at $43,662,000 after acquiring an additional 25,000 shares in the last quarter.

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.