PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Stock Has Consensus Target Price of $4.33 According to Brokerages

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) have been given a consensus rating of “Moderate Buy” by the five analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.33.

A number of research analysts have recently commented on the company. LADENBURG THALM/SH SH initiated coverage on PMV Pharmaceuticals in a research note on Wednesday, July 8th. They issued a “buy” rating and a $3.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. Finally, Weiss Ratings upgraded PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th.

PMV Pharmaceuticals Price Performance

Shares of PMVP opened at $1.31 on Friday. PMV Pharmaceuticals has a one year low of $1.02 and a one year high of $1.91. The company has a 50-day simple moving average of $1.38 and a two-hundred day simple moving average of $1.30. The firm has a market capitalization of $70.03 million, a PE ratio of -0.92 and a beta of 1.36.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.05. Analysts expect that PMV Pharmaceuticals will post -1.26 EPS for the current fiscal year.

Institutional Trading of PMV Pharmaceuticals

A number of hedge funds have recently modified their holdings of PMVP. Rangeley Capital LLC grew its position in PMV Pharmaceuticals by 46.9% in the 1st quarter. Rangeley Capital LLC now owns 66,846 shares of the company’s stock worth $83,000 after purchasing an additional 21,346 shares during the period. BML Capital Management LLC raised its stake in PMV Pharmaceuticals by 0.5% during the 1st quarter. BML Capital Management LLC now owns 5,320,000 shares of the company’s stock valued at $6,597,000 after buying an additional 28,000 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of PMV Pharmaceuticals during the 2nd quarter valued at $41,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PMV Pharmaceuticals during the 2nd quarter valued at $43,000. Finally, Susquehanna International Group LLP bought a new position in shares of PMV Pharmaceuticals during the 2nd quarter valued at $50,000. Institutional investors own 90.20% of the company’s stock.

PMV Pharmaceuticals Company Profile

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-causing mutations in the tumor suppressor protein p53. The company aims to discover and develop small-molecule medicines designed to restore the normal tumor-suppressing function of mutant p53 proteins.

PMV’s lead product candidate is rezatapopt, also known as PC14586, an investigational oral therapy designed to selectively target the p53 Y220C mutation. This mutation occurs in a range of solid tumors, and rezatapopt is being evaluated for its potential to reactivate the altered p53 protein and inhibit cancer-cell growth.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals is advancing rezatapopt through clinical development in patients with advanced solid tumors containing the p53 Y220C mutation.