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

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) have received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.33.

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

PMV Pharmaceuticals Stock Performance

Shares of PMVP traded down $0.04 during trading hours on Friday, hitting $1.27. The stock had a trading volume of 170,992 shares, compared to its average volume of 827,223. The firm has a 50-day moving average price of $1.38 and a 200 day moving average price of $1.30. PMV Pharmaceuticals has a fifty-two week low of $1.02 and a fifty-two week high of $1.91. The firm has a market capitalization of $67.89 million, a price-to-earnings ratio of -0.89 and a beta of 1.36.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. As a group, analysts predict that PMV Pharmaceuticals will post -1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On PMV Pharmaceuticals

Large investors have recently bought and sold shares of the business. Eversept Partners LP purchased a new position in PMV Pharmaceuticals during the first quarter worth approximately $2,912,000. BlackRock Inc. acquired a new stake in PMV Pharmaceuticals in the second quarter valued at approximately $1,233,000. Stonepine Capital Management LLC acquired a new stake in PMV Pharmaceuticals in the second quarter valued at approximately $718,355. Walleye Capital LLC purchased a new stake in shares of PMV Pharmaceuticals in the second quarter valued at approximately $450,000. Finally, Bank of America Corp DE purchased a new stake in shares of PMV Pharmaceuticals in the second quarter valued at approximately $322,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

PMV Pharmaceuticals Company Profile

PMV Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancer. The company’s research centers on p53, a tumor-suppressor protein that is frequently altered in cancer, with the goal of developing therapies that restore the protein’s function in tumors containing specific p53 mutations.

PMV’s lead investigational product is rezatapopt (also known as PC14586), an orally administered small-molecule therapy designed to selectively reactivate the Y220C mutation of p53.