Pharvaris (PHVS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tazeen Ahmad from Bank of America Securities reiterated a Sell rating on the stock and has a $14.00 price target.
Tazeen Ahmad has given his Sell rating due to a combination of factors surrounding Pharvaris’s current market position and future prospects. The company has completed enrollment for its pivotal on-demand HAE trial, but the timing of the topline readout remains uncertain and depends on the accumulation rate of HAE attacks. While any acceleration in timelines could be seen as positive, Pharvaris faces significant competition in the HAE market, with other therapies potentially reaching the market sooner.
Furthermore, Pharvaris’s prophy HAE program, which is a key driver of their investment thesis, still requires substantial de-risking. The company is conducting its first study using the XR formulation, and there is a risk of reduced efficacy when transitioning from phase 2 to phase 3 trials. The HAE treatment market is becoming increasingly crowded, and Pharvaris needs to differentiate itself in this competitive landscape. Additionally, the company’s plans to initiate a pivotal trial in acquired angioedema in 2025 add to the uncertainty, as discussions with the FDA on trial design are still ongoing.
PHVS’s price has also changed moderately for the past six months – from $17.830 to $11.900, which is a -33.26% drop .