Pharvaris (PHVS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Maxwell Skor from Morgan Stanley maintained a Buy rating on the stock and has a $34.00 price target.
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Maxwell Skor has given his Buy rating due to a combination of factors that highlight Pharvaris’s strategic advancements and promising developments. The company has been actively focusing on expanding the potential applications of deucrictibant beyond hereditary angioedema (HAE), showcasing its value through a recent R&D Day. This event emphasized the pathophysiology of bradykinin-mediated angioedema and introduced a novel biomarker assay aimed at identifying patients who could benefit from bradykinin B2 receptor antagonism, which is the mechanism of action for deucrictibant.
Furthermore, Pharvaris is progressing with pivotal Phase 3 trials for both on-demand and prophylactic treatments, with significant milestones expected in the coming years. The receipt of Thorough QT (TQT) waivers for deucrictibant formulations also underscores regulatory progress, enhancing the drug’s development prospects. These strategic initiatives and clinical advancements contribute to the positive outlook for Pharvaris, justifying the Buy rating.
PHVS’s price has also changed moderately for the past six months – from $20.000 to $16.620, which is a -16.90% drop .