Pharvaris (NASDAQ:PHVS) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Pharvaris (NASDAQ:PHVS) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other analysts also recently weighed in on the company. UBS Group set a $74.00 price target on Pharvaris in a research note on Wednesday, May 13th. Wolfe Research initiated coverage on Pharvaris in a report on Thursday, April 9th. They issued an “outperform” rating and a $42.00 target price on the stock. Wedbush increased their target price on Pharvaris from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a report on Tuesday, April 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Pharvaris in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Pharvaris Price Performance

Shares of NASDAQ PHVS opened at $35.16 on Wednesday. Pharvaris has a 1 year low of $19.12 and a 1 year high of $36.60. The stock has a market cap of $2.30 billion, a P/E ratio of -11.06 and a beta of -2.34. The firm has a 50-day moving average of $31.98 and a 200 day moving average of $28.89.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.12. Research analysts expect that Pharvaris will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pharvaris news, insider Anne Lesage sold 30,703 shares of Pharvaris stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.49, for a total value of $1,089,649.47. Following the completion of the sale, the insider owned 93,969 shares of the company’s stock, valued at approximately $3,334,959.81. This trade represents a 24.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.49, for a total value of $1,089,968.88. Following the completion of the transaction, the director owned 315,167 shares of the company’s stock, valued at $11,185,276.83. This represents a 8.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 303,356 shares of company stock worth $9,746,065 in the last three months. Corporate insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Pharvaris

Several large investors have recently bought and sold shares of PHVS. GF Fund Management CO. LTD. bought a new position in Pharvaris during the 4th quarter valued at about $35,000. JPMorgan Chase & Co. raised its holdings in shares of Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after purchasing an additional 783 shares during the last quarter. Barclays PLC bought a new position in Pharvaris during the fourth quarter valued at approximately $77,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pharvaris during the fourth quarter valued at approximately $86,000. Finally, CoreCap Advisors LLC purchased a new stake in Pharvaris in the second quarter worth approximately $93,000.

Pharvaris Company Profile

Pharvaris is a clinical-stage biopharmaceutical company focused on discovering and developing novel oral therapies for rare bradykinin-driven diseases. The company’s core mission is to address conditions characterized by uncontrolled activation of the plasma kallikrein-kinin system, with a primary emphasis on hereditary angioedema (HAE), a debilitating disorder marked by recurrent swelling episodes.

The company’s lead program, PHA121, is an investigational once-daily oral plasma kallikrein inhibitor designed for prophylactic treatment of HAE and is advancing through clinical trials.