TD Cowen analyst Yaron Werber has maintained their bullish stance on PMVP stock, giving a Buy rating today.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Yaron Werber has given his Buy rating due to a combination of factors surrounding PMV Pharmaceuticals’ promising developments in their PYNNACLE Phase 2 trial. The trial has shown impressive initial results in treating ovarian cancer, with a 46% overall response rate (ORR) and a median duration of response (mDOR) of 8 months, which surpasses the management’s expectations and is significantly better than the current standard of care.
The ongoing recruitment of additional ovarian cancer patients aims to further solidify the dataset, with full data expected by the end of 2026. The company’s financial position is strong, with $129 million in cash providing a runway until the first quarter of 2027, supporting the potential for a new drug application filing. Werber sees rezatapopt as a compelling acquisition target for mid-cap biopharmaceutical companies, enhancing its attractiveness as a solid investment opportunity.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $5.00 price target.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PMVP in relation to earlier this year.