Pharvaris Receives Upgrade from Wall Street Zen Amid Positive Analyst Ratings

Pharvaris (NASDAQ: PHVS) has been upgraded from a “sell” rating to a “hold” rating by Wall Street Zen, as outlined in a recent research report issued on November 11, 2023. This upgrade reflects a growing confidence in the company’s stock performance, following a series of positive evaluations from prominent financial analysts.

Several other analysts have also weighed in on Pharvaris. HC Wainwright maintained a “buy” rating, setting a target price of $60.00 for the stock. This report was released on November 13, 2023, indicating strong support for the company’s growth potential. Conversely, JMP Securities adjusted its price target downward from $55.00 to $52.00 while retaining a “market outperform” rating in a report published on August 13, 2023.

In an interesting shift, Zacks Research upgraded Pharvaris from a “strong sell” to a “hold” rating on August 18, 2023. Meanwhile, Morgan Stanley increased its target price from $34.00 to $37.00, categorizing the stock as “overweight” in a report dated November 14, 2023. Additionally, Wedbush raised its target price for Pharvaris shares from $27.00 to $30.00 and assigned an “outperform” rating on November 13, 2023.

As a result of these varied assessments, seven financial research analysts have issued a “Buy” rating for Pharvaris, while two analysts have assigned a “Hold” rating. One analyst has recommended a “Sell” rating. According to data from MarketBeat, Pharvaris currently holds an average rating of “Moderate Buy” and an average price target of $37.57.

Company Performance and Financial Insights

Pharvaris announced its quarterly earnings on November 12, 2023, reporting an earnings per share (EPS) of ($0.70). This figure exceeded analysts’ consensus estimates, which projected an EPS of ($0.78), marking a positive surprise of $0.08. Looking forward, analysts predict that Pharvaris will report an EPS of ($2.71) for the current fiscal year, indicating ongoing challenges as it seeks to establish a stronger market presence.

Recent institutional activity reflects a notable interest in Pharvaris. BNP Paribas Asset Management Holding S.A. established a new position in Pharvaris valued at approximately $57,000 during the second quarter of 2023. JPMorgan Chase & Co. increased its holdings by 30.6%, now owning 3,342 shares valued at $59,000 after acquiring an additional 783 shares.

In the third quarter, China Universal Asset Management Co. Ltd. also entered the market with a new position valued at around $75,000. Furthermore, the Public Employees Retirement System of Ohio raised its stake in Pharvaris by 39.3%, owning 6,269 shares now worth $156,000 after acquiring an additional 1,769 shares in the last quarter. Additionally, Legal & General Group Plc increased its holdings by 17.2%, bringing its total to 11,550 shares valued at $203,000.

About Pharvaris

Pharvaris N.V. is a clinical-stage biopharmaceutical firm dedicated to developing and commercializing therapies for rare diseases. The company is progressing with its lead product, PHA121, a small molecule bradykinin B2-receptor antagonist aimed at treating hereditary angioedema (HAE). Furthermore, Pharvaris is developing PHVS416, a rapid exposure soft capsule for acute HAE attacks, currently in Phase 2 clinical trials, and PHVS719, a prophylactic extended-release tablet for HAE patients, which is under Phase 1 clinical trials.

As Pharvaris continues to navigate the complexities of the biopharmaceutical landscape, its recent upgrades and ongoing institutional interest signal a cautiously optimistic outlook for investors and stakeholders alike.