Optimistic Buy Rating for Pharvaris on Advancement in Phase 3 HAE Treatment Trial

Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on PHVS stock, giving a Buy rating on March 19.

Joseph Schwartz has given his Buy rating due to a combination of factors related to Pharvaris’s advancement in its Phase 3 clinical study, RAPIDe-3. This study is crucial for the company’s deucrictibant (PHA121), which is a novel oral treatment for hereditary angioedema (HAE) attacks. The positive results from the Phase 2 RAPIDe-2 study, along with the resolution of a clinical hold and productive discussions with the FDA, have set the stage for this pivotal trial. Schwartz acknowledges the similarities in the study design to a successful trial by a peer company, which bodes well for Pharvaris’s program.
Additionally, the trial design for RAPIDe-3, which seeks to enroll around 120 patients, is well thought out with inclusion criteria that are comparable to other successful studies in the field. The primary endpoint of the study, which focuses on the time to onset of symptom relief, is a critical measure of effectiveness. With a potentially shorter timeline for completion due to a smaller trial size and fewer attacks required for treatment, Schwartz anticipates a quicker progression to topline data, which could be advantageous for Pharvaris. This, combined with the company’s strategic progression and the anticipation of favorable study outcomes, supports Schwartz’s optimistic outlook on the stock.

Schwartz covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Insmed, and KalVista Pharmaceuticals. According to TipRanks, Schwartz has an average return of 0.6% and a 41.58% success rate on recommended stocks.

In another report released on March 19, Wedbush also maintained a Buy rating on the stock with a $35.00 price target.

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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.