PMV Pharmaceuticals (NASDAQ:PMVP) Rating Increased to Outperform at Oppenheimer

Oppenheimer upgraded shares of PMV Pharmaceuticals (NASDAQ:PMVP) from a market perform rating to an outperform rating in a report published on Friday, Marketbeat reports. Oppenheimer currently has $6.00 target price on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of PMV Pharmaceuticals in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PMV Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $5.80.

PMV Pharmaceuticals Stock Performance

Shares of PMVP stock traded down $0.04 during mid-day trading on Friday, hitting $1.74. 353,638 shares of the stock were exchanged, compared to its average volume of 411,362. The stock’s fifty day simple moving average is $1.56 and its two-hundred day simple moving average is $1.66. PMV Pharmaceuticals has a 12-month low of $1.40 and a 12-month high of $3.47. The stock has a market capitalization of $89.64 million, a price-to-earnings ratio of -1.79 and a beta of 1.49.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BML Capital Management LLC increased its holdings 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. Assenagon Asset Management S.A. lifted its position in shares of PMV Pharmaceuticals by 36.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 353,837 shares of the company’s stock valued at $527,000 after acquiring an additional 93,809 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of PMV Pharmaceuticals by 570.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 69,867 shares of the company’s stock worth $113,000 after acquiring an additional 59,452 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PMV Pharmaceuticals in the 2nd quarter worth approximately $101,000. Finally, Evoke Wealth LLC purchased a new position in PMV Pharmaceuticals in the 2nd quarter valued at approximately $102,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

PMV Pharmaceuticals Company Profile

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.