PMV Pharmaceuticals’ (PMVP) “Buy” Rating Reiterated at HC Wainwright

PMV Pharmaceuticals (NASDAQ:PMVP)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $5.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 303.23% from the company’s current price.

A number of other analysts have also recently issued reports on PMVP. Oppenheimer cut their target price on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings raised shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, LADENBURG THALM/SH SH began coverage on shares of PMV Pharmaceuticals in a research note on Wednesday, July 8th. They issued a “buy” rating and a $3.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.33.

PMV Pharmaceuticals Trading Down 1.6%

PMVP opened at $1.24 on Friday. PMV Pharmaceuticals has a 1-year low of $1.02 and a 1-year high of $1.88. The stock’s fifty day simple moving average is $1.25 and its 200 day simple moving average is $1.29. The stock has a market cap of $66.29 million, a PE ratio of -0.87 and a beta of 1.37.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. Equities analysts forecast that PMV Pharmaceuticals will post -1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PMVP. Shay Capital LLC acquired a new stake in shares of PMV Pharmaceuticals during the second quarter worth $26,000. Squarepoint Ops LLC grew its stake in shares of PMV Pharmaceuticals by 101.8% in the fourth quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock valued at $33,000 after acquiring an additional 13,367 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of PMV Pharmaceuticals by 349.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock valued at $34,000 after acquiring an additional 21,334 shares in the last quarter. Hsbc Holdings PLC bought a new position in PMV Pharmaceuticals during the second quarter worth about $41,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in PMV Pharmaceuticals during the second quarter worth about $43,000. Institutional investors own 90.20% of the company’s stock.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. It's lead product candidate is PC14586, a small molecule that corrects mutant p53 protein containing the Y220C mutation and restores wild-type p53 function. The company was formerly known as PJ Pharmaceuticals, Inc and changed its name to PMV Pharmaceuticals, Inc in July 2013. PMV Pharmaceuticals, Inc was incorporated in 2013 and is based in Princeton, New Jersey.