Pharvaris (NASDAQ:PHVS) Upgraded at Bank of America

Bank of America upgraded shares of Pharvaris (NASDAQ:PHVS) from a neutral rating to a buy rating in a research note issued to investors on Friday, MarketBeat Ratings reports. Bank of America currently has $44.00 price objective on the stock.

PHVS has been the subject of several other research reports. Morgan Stanley boosted their price objective on Pharvaris from $46.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Pharvaris in a report on Tuesday, September 8th. Guggenheim lifted their price target on Pharvaris from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Rosenblatt Securities set a $60.00 price target on Pharvaris in a research report on Wednesday, September 9th. Finally, HSBC upgraded Pharvaris to an “overweight” rating in a report on Thursday, August 13th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pharvaris presently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Pharvaris Price Performance

Shares of PHVS opened at $31.41 on Friday. The company has a market capitalization of $2.05 billion, a PE ratio of -10.30 and a beta of -2.46. Pharvaris has a one year low of $21.02 and a one year high of $43.25. The company’s fifty day moving average price is $33.98 and its 200 day moving average price is $32.55.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). Analysts anticipate that Pharvaris will post -3.12 earnings per share for the current year.

Insider Activity at Pharvaris

In related news, insider Anne Lesage sold 30,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $38.30, for a total value of $1,149,000.00. Following the completion of the sale, the insider owned 56,450 shares in the company, valued at approximately $2,162,035. This trade represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elisabeth Bjork sold 52,500 shares of Pharvaris stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $37.89, for a total value of $1,989,225.00. Following the sale, the director directly owned 15,167 shares in the company, valued at approximately $574,677.63. This trade represents a 77.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 513,102 shares of company stock worth $18,643,666.

Hedge Funds Weigh In On Pharvaris

Several large investors have recently added to or reduced their stakes in PHVS. Quantbot Technologies LP acquired a new stake in shares of Pharvaris during the 2nd quarter worth approximately $41,000. CoreCap Advisors LLC acquired a new position in shares of Pharvaris in the second quarter valued at $93,000. Public Employees Retirement System of Ohio acquired a new position in shares of Pharvaris in the second quarter valued at $196,000. Algert Global LLC bought a new position in Pharvaris in the second quarter worth $238,000. Finally, Persistent Asset Partners Ltd bought a new position in Pharvaris in the second quarter worth $273,000.

About Pharvaris

Pharvaris N.V. (NASDAQ: PHVS) is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder that causes recurrent episodes of swelling. The company was founded in 2015 by individuals with experience in HAE drug development and aims to provide convenient, non-injectable treatment options for patients.

Pharvaris’ lead investigational product is deucrictibant, an oral bradykinin B2 receptor antagonist designed for use both as an on-demand treatment for HAE attacks and as a preventive therapy.