Royal Bank Of Canada Issues Positive Forecast for Pharvaris (NASDAQ:PHVS) Stock Price

Pharvaris (NASDAQ:PHVS) had its price objective lifted by analysts at Royal Bank Of Canada from $51.00 to $52.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 50.48% from the stock’s current price.

A number of other research firms also recently issued reports on PHVS. Citizens Jmp raised their price target on shares of Pharvaris from $74.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Thursday. Citigroup reissued a “market outperform” rating on shares of Pharvaris in a report on Thursday. Guggenheim upped their target price on Pharvaris from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. UBS Group set a $74.00 target price on Pharvaris in a report on Wednesday, May 13th. Finally, HC Wainwright reissued a “buy” rating on shares of Pharvaris in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

Pharvaris Trading Down 5.2%

Pharvaris stock traded down $1.91 during midday trading on Thursday, hitting $34.55. The stock had a trading volume of 370,723 shares, compared to its average volume of 310,572. The business has a fifty day moving average price of $33.59 and a 200 day moving average price of $30.01. Pharvaris has a 12 month low of $20.65 and a 12 month high of $36.93. The stock has a market cap of $2.26 billion, a P/E ratio of -10.84 and a beta of -2.31.

Pharvaris (NASDAQ:PHVS) last issued its earnings results on Wednesday, August 12th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). On average, equities analysts anticipate that Pharvaris will post -2.97 EPS for the current fiscal year.

Insider Activity

In other news, insider Wim Souverijns sold 10,000 shares of Pharvaris stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $29.92, for a total value of $299,200.00. Following the transaction, the insider owned 45,111 shares of the company’s stock, valued at $1,349,721.12. The trade was a 18.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elisabeth Bjork sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $29.32, for a total transaction of $293,200.00. Following the completion of the sale, the director owned 15,167 shares in the company, valued at $444,696.44. The trade was a 39.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 178,322 shares of company stock valued at $5,969,286 over the last quarter. Insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHVS. Geode Capital Management LLC lifted its position in shares of Pharvaris by 41.1% during the 2nd quarter. Geode Capital Management LLC now owns 54,102 shares of the company’s stock valued at $952,000 after acquiring an additional 15,769 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Pharvaris by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after acquiring an additional 783 shares during the last quarter. Legal & General Group Plc raised its position in shares of Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after purchasing an additional 1,695 shares during the period. Amundi raised its position in shares of Pharvaris by 2,741,600.0% during the second quarter. Amundi now owns 27,417 shares of the company’s stock worth $489,000 after purchasing an additional 27,416 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Pharvaris by 19.2% during the second quarter. The Manufacturers Life Insurance Company now owns 48,857 shares of the company’s stock valued at $860,000 after purchasing an additional 7,879 shares during the last quarter.

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.