LADENBURG THALM/SH SH Begins Coverage on PMV Pharmaceuticals (NASDAQ:PMVP)

LADENBURG THALM/SH SH initiated coverage on shares of PMV Pharmaceuticals (NASDAQ:PMVP) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $3.00 price target on the stock. LADENBURG THALM/SH SH’s price target indicates a potential upside of 141.94% from the stock’s previous close.

Several other research firms have also recently commented on PMVP. Weiss Ratings cut PMV Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Oppenheimer reduced their target price on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Evercore raised shares of PMV Pharmaceuticals to a “strong-buy” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PMV Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $4.00.

PMV Pharmaceuticals Stock Up 2.9%

Shares of NASDAQ:PMVP opened at $1.24 on Wednesday. PMV Pharmaceuticals has a 12 month low of $1.02 and a 12 month high of $1.88. The company’s fifty day simple moving average is $1.24 and its 200 day simple moving average is $1.27. The firm has a market cap of $66.13 million, a price-to-earnings ratio of -0.83 and a beta of 1.33.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its earnings results on Tuesday, May 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.07. Research analysts expect that PMV Pharmaceuticals will post -1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Shay Capital LLC bought a new position in shares of PMV Pharmaceuticals in the second quarter valued at $26,000. Squarepoint Ops LLC lifted its stake in 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 during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of PMV Pharmaceuticals by 349.7% in the 4th 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 during the period. Seven Fleet Capital Management LP acquired a new position in shares of PMV Pharmaceuticals during the 4th quarter worth about $79,000. Finally, Rangeley Capital LLC increased its stake in shares of PMV Pharmaceuticals by 46.9% during the 1st quarter. Rangeley Capital LLC now owns 66,846 shares of the company’s stock worth $83,000 after purchasing an additional 21,346 shares during the last quarter. Institutional investors and hedge funds 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.