JMP Securities analyst Jonathan Wolleben has reiterated their bullish stance on PHVS stock, giving a Buy rating today.
Geoff Meacham has given his Buy rating due to a combination of factors concerning Pharvaris and its product, deucrictibant. The FDA’s recent lifting of the clinical hold on deucrictibant’s prophylactic Hereditary Angioedema (HAE) program has been a significant positive development, reinforcing confidence in the drug’s potential. The impressive Phase 2 trial results, which showed an 85% placebo-adjusted reduction in HAE attacks, position deucrictibant favorably against competitors and support the drug’s efficacy. This data is seen as particularly strong for an oral prophylactic, matching the performance of injectable treatments currently on the market.
Additionally, the analyst’s optimism is bolstered by the management’s proactive steps towards advancing deucrictibant into the pivotal Phase 3 CHAPTER-3 trial, with preparations underway for a meeting with the FDA to discuss the study design. The anticipated transition to an extended-release tablet form, aiming for improved coverage and potentially reducing breakthrough attacks, further supports the positive outlook. The concurrent progression of the acute HAE program, backed by promising Phase 2 data, adds to the confidence in the company’s pipeline. Considering these factors, the analyst has increased the probability of success for deucrictibant in the prophylactic setting and subsequently raised the price target for PHVS, affirming the Buy rating.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $35.00 price target.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Pharvaris (PHVS) Company Description:
Pharvaris NV is a clinical-stage company. It is focused on the discovery and development of novel oral bradykinin B2-receptor antagonists for the treatment of hereditary angioedema (HAE) and other bradykinin B2-receptor-mediated indications.
Read More on PHVS:
- Pharvaris Announces FDA Lifting of the Clinical Hold of Deucrictibant for the Prophylactic Treatment of HAE Attacks
- Pharvaris Provides Business Update and Outlines 2024 Strategic Priorities
- Pharvaris provides business update
- Pharvaris Presents Deucrictibant Clinical Data and Analysis of Endpoints for Trials of On-demand Treatment of HAE at the GA²LEN UCARE Conference 2023
- Pharvaris price target raised to $11 from $8 at BofA
