Pharvaris (NASDAQ:PHVS) Upgraded at Bank of America

Pharvaris (NASDAQ:PHVS) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $44.00 price objective on the stock. Bank of America‘s price objective suggests a potential upside of 43.74% from the company’s previous close.

A number of other research firms also recently commented on PHVS. Oppenheimer reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Pharvaris in a research report on Tuesday, September 8th. New Street Research set a $60.00 target price on Pharvaris in a research report on Friday, August 14th. HSBC upgraded Pharvaris to an “overweight” rating in a research report on Thursday, August 13th. Guggenheim lifted their price target on Pharvaris from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Pharvaris in a research note on Monday, September 14th. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Pharvaris Stock Down 0.2%

NASDAQ:PHVS traded down $0.07 during trading hours on Friday, reaching $30.61. 55,738 shares of the stock were exchanged, compared to its average volume of 441,448. The business has a 50-day moving average of $34.06 and a two-hundred day moving average of $32.52. Pharvaris has a twelve month low of $21.02 and a twelve month high of $43.25. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -10.04 and a beta of -2.46.

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

Insider Activity

In other Pharvaris news, Director Elisabeth Bjork sold 52,500 shares of Pharvaris stock in a transaction 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 transaction, the director owned 15,167 shares in the company, valued at $574,677.63. This trade represents a 77.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Viviane Monges sold 11,969 shares of Pharvaris stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $33.05, for a total transaction of $395,575.45. Following the completion of the transaction, the director owned 5,500 shares in the company, valued at approximately $181,775. This trade represents a 68.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 513,102 shares of company stock valued at $18,643,666 in the last 90 days. Insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Pharvaris

Hedge funds and other institutional investors have recently made changes to their positions in the business. venBio Partners LLC bought a new stake in shares of Pharvaris in the 2nd quarter worth about $160,569,809. 5AM Venture Management LLC bought a new stake in shares of Pharvaris in the 2nd quarter worth about $27,581,008. BlackRock Inc. bought a new stake in shares of Pharvaris in the 2nd quarter worth about $26,677,000. Elmind Capital LP bought a new stake in shares of Pharvaris in the 2nd quarter worth about $18,180,435. Finally, Seven Fleet Capital Management LP increased its position in shares of Pharvaris by 144.6% in the 2nd quarter. Seven Fleet Capital Management LP now owns 774,501 shares of the company’s stock worth $26,782,000 after purchasing an additional 457,804 shares during the last quarter.

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.