Pharvaris: Strong Buy Rating Backed by Regulatory Success and Promising Clinical Progress

Analyst Maxwell Skor from Morgan Stanley maintained a Buy rating on Pharvaris (PHVS – Research Report) and keeping the price target at $34.00.

Maxwell Skor has given his Buy rating due to a combination of factors that highlight Pharvaris’s strong position in the biotechnology sector. A significant reason for this positive outlook is the successful clearance of regulatory hurdles, particularly the FDA’s acceptance of Thorough QT (TQT) study waivers for both the extended-release and immediate-release formulations of deucrictibant. This waiver reflects the robust safety profile of the drug, as it demonstrated no significant impact on cardiovascular parameters, allowing Pharvaris to avoid the costly and time-consuming TQT studies.
Additionally, the ongoing clinical trials, including the pivotal Phase 3 RAPIDe-3 trial and the CHAPTER-3 trial, are progressing well, with expectations for topline data in the near future. These developments, coupled with positive interactions with the FDA, suggest a promising trajectory for Pharvaris’s drug pipeline. The company’s strategic decisions and regulatory achievements position it favorably for future growth, supporting Skor’s Buy recommendation.

Skor covers the Healthcare sector, focusing on stocks such as Pharvaris, Cytokinetics, and Insmed. According to TipRanks, Skor has an average return of -14.0% and a 22.22% success rate on recommended stocks.

In another report released on April 28, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $28.00 price target.