Pharvaris (NASDAQ:PHVS) Upgraded at Bank of America

Pharvaris (NASDAQ:PHVS) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat.com reports. The brokerage presently has a $44.00 target price on the stock. Bank of America‘s target price would suggest a potential upside of 37.99% from the company’s previous close.

PHVS has been the topic of several other reports. Oppenheimer restated an “outperform” rating and set a $75.00 target price on shares of Pharvaris in a research report on Tuesday, September 8th. Rosenblatt Securities set a $60.00 target price on shares of Pharvaris in a research report on Wednesday, September 9th. Citigroup reiterated a “market outperform” rating on shares of Pharvaris in a research report on Wednesday, September 9th. HC Wainwright reiterated a “buy” rating on shares of Pharvaris in a research report on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of Pharvaris from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.53.

Pharvaris Stock Performance

PHVS traded up $1.21 on Friday, hitting $31.89. 292,772 shares of the company were exchanged, compared to its average volume of 442,468. The business’s fifty day moving average is $34.06 and its 200 day moving average is $32.52. Pharvaris has a fifty-two week low of $21.02 and a fifty-two week high of $43.25. The firm has a market capitalization of $2.09 billion, a P/E ratio of -10.48 and a beta of -2.46.

Pharvaris (NASDAQ:PHVS) last issued its earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Analysts forecast that Pharvaris will post -3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Elisabeth Bjork sold 52,500 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $37.89, for a total value of $1,989,225.00. Following the sale, the director directly owned 15,167 shares in the company, valued at $574,677.63. This represents a 77.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David W. Nassif sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $36.47, for a total transaction of $218,820.00. Following the sale, the chief financial officer owned 114,300 shares in the company, valued at approximately $4,168,521. This trade represents a 4.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 513,102 shares of company stock valued at $18,643,666. Corporate insiders own 11.84% of the company’s stock.

Institutional Trading of Pharvaris

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in Pharvaris during the second quarter worth approximately $41,000. CoreCap Advisors LLC acquired a new stake in Pharvaris during the second quarter worth approximately $93,000. Public Employees Retirement System of Ohio acquired a new stake in Pharvaris during the second quarter worth approximately $196,000. Algert Global LLC acquired a new stake in Pharvaris during the second quarter worth approximately $238,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Pharvaris during the second quarter worth approximately $273,000.

Pharvaris Company Profile

Pharvaris N.V. (NASDAQ: PHVS) is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder that causes recurrent episodes of swelling. The company was founded in 2015 by individuals with experience in HAE drug development and aims to provide convenient, non-injectable treatment options for patients.

Pharvaris’ lead investigational product is deucrictibant, an oral bradykinin B2 receptor antagonist designed for use both as an on-demand treatment for HAE attacks and as a preventive therapy.