Pharvaris (NASDAQ:PHVS) Reaches New 52-Week High – Time to Buy?
by Mitch Edgeman · The Markets DailyPharvaris N.V. (NASDAQ:PHVS – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $29.80 and last traded at $29.64, with a volume of 341365 shares. The stock had previously closed at $28.25.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on PHVS. Morgan Stanley raised their target price on Pharvaris from $37.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Pharvaris in a research report on Tuesday, March 3rd. Guggenheim raised their price objective on Pharvaris from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Oppenheimer upped their target price on shares of Pharvaris from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Royal Bank Of Canada started coverage on shares of Pharvaris in a report on Monday, March 9th. They issued an “outperform” rating and a $52.00 target price for the company. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pharvaris presently has an average rating of “Moderate Buy” and an average price target of $41.70.
View Our Latest Analysis on PHVS
Pharvaris Trading Down 3.0%
The stock has a market capitalization of $1.55 billion, a PE ratio of -8.90 and a beta of -2.58. The firm has a 50-day moving average price of $27.04 and a 200-day moving average price of $25.38.
Pharvaris (NASDAQ:PHVS – Get Free Report) last posted its quarterly earnings results on Monday, April 6th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.14). Sell-side analysts expect that Pharvaris N.V. will post -2.71 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Seven Fleet Capital Management LP purchased a new stake in shares of Pharvaris during the 4th quarter worth approximately $1,536,000. XTX Topco Ltd lifted its stake in Pharvaris by 126.1% in the fourth quarter. XTX Topco Ltd now owns 18,568 shares of the company’s stock valued at $515,000 after purchasing an additional 10,355 shares during the last quarter. Ikarian Capital LLC lifted its stake in Pharvaris by 131.7% in the fourth quarter. Ikarian Capital LLC now owns 486,856 shares of the company’s stock valued at $13,510,000 after purchasing an additional 276,691 shares during the last quarter. Virtus Investment Advisers LLC grew its holdings in Pharvaris by 66.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 11,011 shares of the company’s stock valued at $306,000 after purchasing an additional 4,407 shares during the period. Finally, SummitTX Capital L.P. purchased a new stake in Pharvaris in the fourth quarter worth $634,000.
About Pharvaris
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.