Wedbush Raises Pharvaris (NASDAQ:PHVS) Price Target to $42.00

Pharvaris (NASDAQ:PHVS) had its target price hoisted by stock analysts at Wedbush from $41.00 to $42.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 48.04% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Pharvaris in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Pharvaris in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Pharvaris from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Royal Bank Of Canada reduced their price target on shares of Pharvaris from $52.00 to $51.00 and set an “outperform” rating for the company in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pharvaris presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Pharvaris Price Performance

Shares of Pharvaris stock opened at $28.37 on Tuesday. Pharvaris has a fifty-two week low of $11.51 and a fifty-two week high of $29.85. The firm has a fifty day moving average price of $27.07 and a two-hundred day moving average price of $25.47. The company has a market cap of $1.54 billion, a PE ratio of -8.42 and a beta of -2.58.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds have recently made changes to their positions in the business. Seven Fleet Capital Management LP acquired a new position in shares of Pharvaris in the 4th quarter valued at $1,536,000. XTX Topco Ltd raised its stake in shares of Pharvaris by 126.1% in the 4th quarter. XTX Topco Ltd now owns 18,568 shares of the company’s stock valued at $515,000 after buying an additional 10,355 shares in the last quarter. Ikarian Capital LLC raised its stake in shares of Pharvaris by 131.7% in the 4th quarter. Ikarian Capital LLC now owns 486,856 shares of the company’s stock valued at $13,510,000 after buying an additional 276,691 shares in the last quarter. Virtus Investment Advisers LLC raised its stake in shares of Pharvaris by 66.7% in the 4th quarter. Virtus Investment Advisers LLC now owns 11,011 shares of the company’s stock valued at $306,000 after buying an additional 4,407 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new position in shares of Pharvaris in the 4th quarter valued at $634,000.

About Pharvaris

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.