PMV Pharmaceuticals’ (PMVP) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of PMV Pharmaceuticals (NASDAQ:PMVP) in a research note released on Friday morning,Benzinga reports. The firm currently has a $5.00 price objective on the stock.

PMVP has been the subject of a number of other research reports. Weiss Ratings raised shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Oppenheimer decreased their target price on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of PMV Pharmaceuticals in a research note on Wednesday, July 8th. They issued a “buy” rating and a $3.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, PMV Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $4.33.

PMV Pharmaceuticals Stock Performance

PMVP stock opened at $1.29 on Friday. PMV Pharmaceuticals has a 1 year low of $1.02 and a 1 year high of $1.88. The stock’s 50 day moving average price is $1.25 and its 200 day moving average price is $1.29. The firm has a market cap of $68.96 million, a P/E ratio of -0.91 and a beta of 1.37.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. On average, research analysts predict that PMV Pharmaceuticals will post -1.38 earnings per share for the current year.

Institutional Trading of PMV Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shay Capital LLC purchased a new position in shares of PMV Pharmaceuticals during the 2nd quarter worth about $26,000. Squarepoint Ops LLC grew its holdings 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 purchasing an additional 13,367 shares during the period. Public Employees Retirement System of Ohio increased its position in PMV Pharmaceuticals by 349.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock worth $34,000 after purchasing an additional 21,334 shares during the last quarter. Hsbc Holdings PLC acquired a new position in PMV Pharmaceuticals during the second quarter worth approximately $41,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in PMV Pharmaceuticals during the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

PMV Pharmaceuticals Company Profile

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.