Pharvaris (NASDAQ:PHVS) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Pharvaris (NASDAQ:PHVSGet Rating) released its quarterly earnings results on Monday. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.19, MarketWatch Earnings reports.

Pharvaris Trading Up 2.0 %

Shares of NASDAQ:PHVS traded up $0.18 during trading on Wednesday, reaching $9.25. The company had a trading volume of 1 shares, compared to its average volume of 15,400. The company has a fifty day moving average of $17.03 and a two-hundred day moving average of $18.05. The stock has a market capitalization of $294.52 million, a P/E ratio of -3.49 and a beta of -0.19. Pharvaris has a 12 month low of $8.55 and a 12 month high of $27.50.

Wall Street Analyst Weigh In

PHVS has been the topic of several analyst reports. Morgan Stanley cut shares of Pharvaris from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $40.00 to $10.00 in a report on Tuesday, August 23rd. Bank of America cut shares of Pharvaris from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $26.00 to $13.00 in a research note on Monday, August 22nd. Oppenheimer dropped their target price on shares of Pharvaris from $48.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 23rd. SVB Leerink dropped their target price on shares of Pharvaris from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, JMP Securities dropped their target price on shares of Pharvaris from $34.00 to $18.00 and set a “mkt outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Pharvaris currently has an average rating of “Hold” and an average target price of $16.60.

Hedge Funds Weigh In On Pharvaris

A hedge fund recently raised its stake in Pharvaris stock. Bank of America Corp DE raised its stake in Pharvaris (NASDAQ:PHVSGet Rating) by 1,054.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,772 shares of the company’s stock after buying an additional 5,272 shares during the period. 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.

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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Earnings History for Pharvaris (NASDAQ:PHVS)

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