Debanjana Chatterjee, an analyst from JonesTrading, maintained the Buy rating on Pharvaris (PHVS – Research Report). The associated price target remains the same with $43.00.
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Debanjana Chatterjee’s rating is based on the promising potential of Pharvaris’s drug, deucrictibant, in treating bradykinin-mediated angioedemas (Bk-AEs), including hereditary angioedema (HAE) types 1 and 2, as well as rarer forms like HAE with normal C1 inhibitor and acquired C1INH. The drug’s Phase 3 trials are strategically designed to expand its label to these underserved patient populations, which could significantly increase its market reach by addressing an additional 25% of patients beyond the current HAE types 1 and 2.
Furthermore, the efficacy of deucrictibant in both on-demand and prophylactic settings has been encouraging, particularly in investigator-initiated trials for acquired C1INH. Pharvaris is also planning a Phase 3 randomized controlled trial to further assess its use in these contexts. The company is well-positioned financially, with the trial costs already accounted for in its current cash guidance. Additionally, Pharvaris’s efforts to develop a novel assay for detecting excess bradykinin production could enhance clinical research and support broader physician education and marketing efforts, potentially leading to increased diagnosis and treatment of underreported Bk-AEs.
In another report released today, Citizens JMP also reiterated a Buy rating on the stock with a $55.00 price target.