Morgan Stanley Issues Positive Forecast for Pharvaris (NASDAQ:PHVS) Stock Price

Pharvaris (NASDAQ:PHVS) had its target price increased by Morgan Stanley from $34.00 to $37.00 in a research report report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pharvaris in a research note on Wednesday, October 8th. Bank of America upgraded Pharvaris from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $27.00 in a research report on Thursday, October 9th. JMP Securities lowered their price objective on Pharvaris from $55.00 to $52.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 13th. HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Pharvaris in a research note on Thursday. Finally, Wedbush lifted their price target on shares of Pharvaris from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Pharvaris currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.57.

Pharvaris Price Performance

Shares of Pharvaris stock traded down $0.71 during midday trading on Friday, hitting $23.55. The company had a trading volume of 360,937 shares, compared to its average volume of 203,616. Pharvaris has a 1-year low of $11.51 and a 1-year high of $26.33. The business’s 50 day simple moving average is $23.20 and its two-hundred day simple moving average is $20.65. The stock has a market cap of $1.23 billion, a PE ratio of -7.34 and a beta of -2.78.

Pharvaris (NASDAQ:PHVS) last released its earnings results on Wednesday, November 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.08. On average, sell-side analysts expect that Pharvaris will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Pharvaris

Several institutional investors and hedge funds have recently made changes to their positions in PHVS. Palumbo Wealth Management LLC grew its holdings in shares of Pharvaris by 3.2% in the 2nd quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company’s stock worth $256,000 after purchasing an additional 447 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after buying an additional 783 shares in the last quarter. HighVista Strategies LLC increased its holdings in shares of Pharvaris by 4.3% during the second quarter. HighVista Strategies LLC now owns 23,739 shares of the company’s stock worth $418,000 after buying an additional 971 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Pharvaris by 9.8% in the second quarter. California State Teachers Retirement System now owns 14,048 shares of the company’s stock valued at $247,000 after acquiring an additional 1,257 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Pharvaris by 17.2% in the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after acquiring an additional 1,695 shares in the last quarter.

Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.