PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Receives Average Rating of “Moderate Buy” from Brokerages

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $4.33.

A number of brokerages have issued reports on PMVP. LADENBURG THALM/SH SH began coverage on shares of PMV Pharmaceuticals in a research report on Wednesday, July 8th. They set a “buy” rating and a $3.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of PMV Pharmaceuticals in a research report on Friday, September 4th. Finally, Weiss Ratings upgraded PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th.

Hedge Funds Weigh In On PMV Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cooper Haims Advisors LLC acquired a new position in PMV Pharmaceuticals in the second quarter valued at about $52,000. Susquehanna International Group LLP bought a new stake in PMV Pharmaceuticals during the second quarter worth about $50,000. Stonepine Capital Management LLC bought a new stake in PMV Pharmaceuticals during the second quarter worth about $718,355. Bank of America Corp DE acquired a new stake in PMV Pharmaceuticals during the second quarter worth about $322,000. Finally, ADAR1 Capital Management LLC acquired a new stake in PMV Pharmaceuticals during the second quarter worth about $269,000. 90.20% of the stock is owned by institutional investors and hedge funds.

PMV Pharmaceuticals Stock Performance

Shares of PMV Pharmaceuticals stock opened at $1.79 on Tuesday. The firm has a 50-day moving average of $1.32 and a 200-day moving average of $1.30. PMV Pharmaceuticals has a 52-week low of $1.02 and a 52-week high of $1.91. The stock has a market cap of $95.69 million, a PE ratio of -1.26 and a beta of 1.36.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. Equities research analysts predict that PMV Pharmaceuticals will post -1.26 earnings per share for the current fiscal year.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-driving genetic mutations. The company uses its proprietary research platform to discover and develop small-molecule medicines designed to restore the activity of mutated tumor-suppressor proteins.

PMV’s lead product candidate is rezatapopt (PC14586), an oral small-molecule therapy designed to reactivate the p53 protein when it carries the Y220C mutation. The candidate is being evaluated in patients with advanced solid tumors harboring this specific mutation, including through the company’s PYNNACLE clinical trial.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals focuses on oncology drug discovery and clinical development.