Pharvaris (NASDAQ:PHVS) Releases Earnings Results, Beats Estimates By $0.08 EPS

Pharvaris (NASDAQ:PHVS) released its quarterly earnings data on Wednesday. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.08, Zacks reports.

Pharvaris Price Performance

PHVS opened at $25.81 on Thursday. The company has a 50 day simple moving average of $23.14 and a two-hundred day simple moving average of $20.58. The firm has a market cap of $1.35 billion, a P/E ratio of -7.68 and a beta of -2.78. Pharvaris has a 1-year low of $11.51 and a 1-year high of $26.33.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Pharvaris in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a research report on Wednesday, October 8th. JMP Securities dropped their target price on shares of Pharvaris from $55.00 to $52.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 13th. Bank of America raised shares of Pharvaris from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $16.00 to $27.00 in a research report on Thursday, October 9th. Finally, Zacks Research raised Pharvaris from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.17.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after acquiring an additional 783 shares during the period. Legal & General Group Plc grew its position in shares of Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after purchasing an additional 1,695 shares in the last quarter. California State Teachers Retirement System raised its stake in Pharvaris by 9.8% during the 2nd quarter. California State Teachers Retirement System now owns 14,048 shares of the company’s stock valued at $247,000 after purchasing an additional 1,257 shares during the period. Boothbay Fund Management LLC purchased a new position in Pharvaris in the 2nd quarter worth approximately $285,000. Finally, Schroder Investment Management Group bought a new position in Pharvaris in the 3rd quarter worth approximately $293,000.

Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.