JMP Securities Forecasts Strong Price Appreciation for Pharvaris (NASDAQ:PHVS) Stock

Pharvaris (NASDAQ:PHVS) had its price target lifted by JMP Securities from $46.00 to $55.00 in a research report sent to investors on Friday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Pharvaris Price Performance

PHVS stock opened at $17.60 on Friday. Pharvaris has a 1-year low of $15.21 and a 1-year high of $33.00. The firm has a fifty day moving average price of $19.02 and a two-hundred day moving average price of $19.37. The firm has a market cap of $920.30 million, a price-to-earnings ratio of -6.29 and a beta of -3.06.

Hedge Funds Weigh In On Pharvaris

Several institutional investors have recently modified their holdings of the company. Patient Square Capital LP bought a new stake in Pharvaris during the third quarter worth approximately $4,488,000. State Street Corp purchased a new position in Pharvaris in the 3rd quarter worth about $1,000,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Pharvaris during the 3rd quarter worth about $906,000. Sphera Funds Management LTD. increased its position in shares of Pharvaris by 8.9% in the third quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock worth $8,136,000 after acquiring an additional 36,027 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Pharvaris during the third quarter valued at approximately $526,000.

About Pharvaris

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.