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Pharvaris (NASDAQ:PHVS) Posts Earnings Results, Beats Expectations By $0.19 EPS

kopsource ·  Sep 14, 2022 08:23

Pharvaris (NASDAQ:PHVS – Get Rating) posted its quarterly earnings results on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.19, MarketWatch Earnings reports.

Pharvaris Trading Down 2.6 %

NASDAQ PHVS opened at $9.07 on Wednesday. The company has a 50-day moving average price of $17.03 and a two-hundred day moving average price of $18.05. Pharvaris has a 52 week low of $8.55 and a 52 week high of $27.50. The stock has a market cap of $288.79 million, a price-to-earnings ratio of -3.49 and a beta of -0.19.

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Institutional Investors Weigh In On Pharvaris

A hedge fund recently raised its stake in Pharvaris stock. Bank of America Corp DE boosted its holdings in Pharvaris (NASDAQ:PHVS – Get Rating) by 1,054.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,772 shares of the company's stock after acquiring an additional 5,272 shares during the quarter. Bank of America Corp DE's holdings in Pharvaris were worth $105,000 at the end of the most recent quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on PHVS shares. Bank of America cut shares of Pharvaris from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $26.00 to $13.00 in a report on Monday, August 22nd. SVB Leerink cut their target price on shares of Pharvaris from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday. Oppenheimer decreased their target price on Pharvaris from $48.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, August 23rd. Morgan Stanley cut Pharvaris from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $40.00 to $10.00 in a research report on Tuesday, August 23rd. Finally, JMP Securities reduced their price objective on Pharvaris from $34.00 to $18.00 and set a "mkt outperform" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Pharvaris has an average rating of "Hold" and a consensus target price of $16.60.

Pharvaris Company Profile

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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 that is in Phase II clinical trial for the treatment of hereditary angioedema (HAE).

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