Pharvaris (NASDAQ:PHVS) Upgraded to “Buy” 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 research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $44.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 43.42% from the company’s previous close.

PHVS has been the subject of a number of other reports. Citizens Jmp raised their target price on shares of Pharvaris from $75.00 to $79.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a report on Thursday, October 15th. Wedbush raised their target price on shares of Pharvaris from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Citigroup restated a “market outperform” rating on shares of Pharvaris in a report on Wednesday, September 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Pharvaris in a report on Monday, September 14th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.53.

Pharvaris Stock Performance

Shares of NASDAQ:PHVS opened at $30.68 on Friday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -10.06 and a beta of -2.46. Pharvaris has a 1-year low of $21.02 and a 1-year high of $43.25. The company has a 50 day moving average price of $34.06 and a 200 day moving average price of $32.52.

Pharvaris (NASDAQ:PHVS) last issued its earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). On average, sell-side analysts expect that Pharvaris will post -3.12 EPS for the current fiscal year.

Insider Buying and Selling at Pharvaris

In other Pharvaris news, President Peng Lu sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $35.00, for a total value of $3,500,000.00. Following the completion of the sale, the president owned 64,953 shares in the company, valued at $2,273,355. This represents a 60.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johannes Gerardus Chri Schikan sold 200,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $35.00, for a total transaction of $7,000,000.00. Following the completion of the sale, the director owned 115,167 shares of the company’s stock, valued at approximately $4,030,845. The trade was a 63.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 513,102 shares of company stock valued at $18,643,666 in the last ninety days. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Pharvaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Pharvaris during the 2nd quarter valued at $41,000. CoreCap Advisors LLC bought a new position in shares of Pharvaris during the 2nd quarter valued at $93,000. Public Employees Retirement System of Ohio bought a new position in shares of Pharvaris during the 2nd quarter valued at $196,000. Algert Global LLC bought a new position in shares of Pharvaris during the 2nd quarter valued at $238,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Pharvaris during the 2nd quarter valued at $273,000.

About Pharvaris

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.