PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Receives Average Recommendation of “Buy” from Analysts

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) have earned an average recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.80.

Several research firms have commented on PMVP. Oppenheimer raised PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Friday, November 8th. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of PMV Pharmaceuticals in a research note on Tuesday, August 20th.

PMV Pharmaceuticals Stock Down 4.6 %

Shares of NASDAQ PMVP opened at $1.67 on Friday. PMV Pharmaceuticals has a 12 month low of $1.40 and a 12 month high of $3.47. The company has a market cap of $86.04 million, a P/E ratio of -1.67 and a beta of 1.49. The business’s 50 day moving average is $1.56 and its two-hundred day moving average is $1.66.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). Sell-side analysts expect that PMV Pharmaceuticals will post -1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PMV Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in PMVP. Vanguard Group Inc. lifted its position in shares of PMV Pharmaceuticals by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,452,111 shares of the company’s stock worth $4,169,000 after buying an additional 46,804 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of PMV Pharmaceuticals by 170.7% during the first quarter. Acadian Asset Management LLC now owns 2,080,194 shares of the company’s stock valued at $3,533,000 after acquiring an additional 1,311,745 shares during the period. BML Capital Management LLC boosted its stake in shares of PMV Pharmaceuticals by 29.0% in the 3rd quarter. BML Capital Management LLC now owns 1,688,772 shares of the company’s stock valued at $2,516,000 after purchasing an additional 379,375 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of PMV Pharmaceuticals by 92.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 826,704 shares of the company’s stock worth $1,405,000 after purchasing an additional 397,062 shares during the last quarter. Finally, Opaleye Management Inc. bought a new stake in shares of PMV Pharmaceuticals in the 1st quarter worth about $802,000. 90.20% of the stock is owned by institutional investors and hedge funds.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. It's lead product candidate is PC14586, a small molecule that corrects mutant p53 protein containing the Y220C mutation and restores wild-type p53 function.