Trump/Cook, Nissan weakness, more tariffs and gold - what’s moving markets
On Thursday, Citizens JMP analysts maintained their Market Outperform rating for Pharvaris B.V. (NASDAQ:PHVS) stock and reiterated a price target of $55, significantly above the current trading price of $16.62. The decision, aligned with the broader analyst consensus of 1.56 (Strong Buy), follows Pharvaris’ recent research and development day, where the company shared its plans to expand the use of deucrictibant in treating bradykinin-mediated angioedema beyond hereditary angioedema (HAE) types 1 and 2.
Pharvaris announced its intention to initiate a new Phase 3 trial for deucrictibant in acquired angioedema within this year. This development is part of the company’s strategy to broaden the application of its treatment beyond existing indications. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 11.1, indicating robust liquidity to support its clinical programs.
The reiterated price target of $55 is based on a risk-adjusted, discounted cash flow (DCF) analysis. The analysts at Citizens JMP believe that the company’s ongoing efforts in expanding its treatment applications support the Market Outperform rating.
Pharvaris B.V., listed on the NASDAQ under the ticker PHVS, continues to focus on advancing its pipeline to address unmet needs in angioedema treatments.
In other recent news, Pharvaris has reported promising results for its drug candidate deucrictibant, which is being evaluated for the treatment and prevention of hereditary angioedema (HAE). The company has shared data indicating that deucrictibant could effectively manage HAE attacks, with studies showing a low attack rate over an extended period and the potential for once-daily dosing. Additionally, the European Commission has granted orphan designation to deucrictibant, recognizing its potential in treating bradykinin-mediated angioedema, following a similar designation by the U.S. FDA. Analysts at JMP Securities have maintained a Market Outperform rating on Pharvaris, highlighting the upcoming Phase 3 data as a critical milestone, with potential U.S. launches anticipated in the coming years. The analyst firm projects peak sales for deucrictibant to reach $600 million for acute treatment and $1.6 billion for prophylactic use. Pharvaris is currently conducting pivotal Phase 3 studies to further evaluate the efficacy and safety of deucrictibant. The company is also exploring the use of a biomarker assay to broaden treatment opportunities for its drug candidate. These developments position Pharvaris as a significant player in the HAE therapeutic space, with investors closely watching its progress.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.