Pharvaris (NASDAQ:PHVS) Reaches New 52-Week High After Analyst Upgrade

Pharvaris N.V. (NASDAQ:PHVS) shares hit a new 52-week high during trading on Thursday after Guggenheim raised their price target on the stock from $32.00 to $39.00. Guggenheim currently has a buy rating on the stock. Pharvaris traded as high as $29.67 and last traded at $29.36, with a volume of 3541160 shares. The stock had previously closed at $24.12.

Several other equities analysts have also issued reports on PHVS. JMP Securities reduced their target price on Pharvaris from $55.00 to $52.00 and set a “market outperform” rating for the company in a report on Wednesday, August 13th. Bank of America upped their price objective on Pharvaris from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush raised their target price on Pharvaris from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Oppenheimer boosted their price target on shares of Pharvaris from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Citigroup restated a “market outperform” rating on shares of Pharvaris in a research report on Wednesday, November 19th. Nine 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PHVS. Deutsche Bank AG increased its holdings in Pharvaris by 55.1% in the 1st quarter. Deutsche Bank AG now owns 28,174 shares of the company’s stock worth $442,000 after acquiring an additional 10,006 shares during the last quarter. Palumbo Wealth Management LLC boosted its position in Pharvaris by 3.2% during the second quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company’s stock worth $256,000 after purchasing an additional 447 shares during the period. TD Asset Management Inc increased its stake in shares of Pharvaris by 27.4% in the second quarter. TD Asset Management Inc now owns 99,510 shares of the company’s stock worth $1,751,000 after purchasing an additional 21,388 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Pharvaris in the second quarter valued at approximately $57,000. Finally, Geode Capital Management LLC raised its position in shares of Pharvaris by 41.1% in the second quarter. Geode Capital Management LLC now owns 54,102 shares of the company’s stock valued at $952,000 after purchasing an additional 15,769 shares during the period.

Pharvaris Stock Performance

The stock’s 50 day moving average is $23.81 and its 200 day moving average is $21.58. The company has a market capitalization of $1.38 billion, a PE ratio of -8.23 and a beta of -2.80.

Pharvaris (NASDAQ:PHVS) last issued its earnings results on Wednesday, November 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.08. On average, equities research analysts forecast that Pharvaris N.V. will post -2.71 EPS for the current fiscal year.

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.