Morgan Stanley cuts Pharvaris (NASDAQ:PHVS) target price to $40.00



Pharvaris (NASDAQ:PHVS – Get Valuation) saw its target price reduced by Morgan Stanley analysts to $40.00 in a report on Tuesday, Stock Target Advisor reports. The company currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 127.92% from the current stock price.

Several other analysts have also recently commented on the stock. Zacks Investment Research downgraded Pharvaris shares from a “buy” rating to a “hold” rating in a Saturday, April 2 report. SVB Leerink lowered its price target on Pharvaris shares from $50.00 to $45.00 and set an “outperform” rating on the stock in a Wednesday, March 30 report.

Pharvaris stock traded at $0.44 at midday on Tuesday, hitting $17.55. 207 shares of the company were traded, against an average volume of 32,848. Pharvaris has a fifty-two week low of $13.14 and a fifty-two week high of $22.27. The company has a market capitalization of $558.79 million, a price-earnings ratio of -6.75 and a beta of -0.42. The company’s fifty-day moving average is $17.52 and its two-hundred-day moving average is $16.82.

Pharvaris (NASDAQ:PHVS – Get Rating) last released its quarterly results on Tuesday, March 29. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.74) by $0.27. Research analysts expect Pharvaris to post -2.02 EPS for the current year.

A number of hedge funds and other institutional investors have recently changed their positions in the stock. JPMorgan Chase & Co. increased its stake in Pharvaris by 6.7% in the fourth quarter. JPMorgan Chase & Co. now owns 16,964 shares of the company worth $268,000 after buying an additional 1,060 shares last quarter. DAFNA Capital Management LLC increased its stake in Pharvaris by 4.7% during the fourth quarter. DAFNA Capital Management LLC now owns 36,720 shares of the company worth $528,000 after purchasing an additional 1,646 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Pharvaris by 8.6% in the third quarter. Goldman Sachs Group Inc. now owns 30,174 shares of the company worth $535,000 after buying 2,382 more shares last quarter. Morgan Stanley bought a new stake in Pharvaris during the first quarter worth $135,000. Finally, Viking Global Investors LP increased its holdings in Pharvaris by 1.0% during the first quarter. Viking Global Investors LP now owns 2,480,319 shares of the company worth $46,382,000 after purchasing an additional 24,783 shares in the last quarter. 79.32% of the shares are currently held by hedge funds and other institutional investors.

Phavaris Company Profile (Get a rating)

Pharvaris NV, a clinical-stage biopharmaceutical company, is focused on developing and commercializing therapies for rare diseases. The company is developing PHA121, a small molecule bradykinin B2 receptor antagonist that is in a phase II clinical trial for the treatment of hereditary angioedema (HAE).

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