As previously reported, BofA upgraded Pharvaris (PHVS) to Neutral from Underperform with a price target of $27, up from $16. Pharvaris is targeting a broad label for its drug to treat bradykinin-mediated angioedema, while most competitors are only approved for hereditary angioedema type 1/2, notes the analyst, who says success in this strategy would make it the only company with an oral option for both acute and preventative treatment. However, the firm thinks the current valuation assumes significant value for upcoming acute HAE data and that the prophylactic opportunity “still needs de-risking,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PHVS:
- Pharvaris Secures Registration Rights Agreement with General Atlantic
- Pharvaris Advances Clinical Pipeline with Strong Financials
- Pharvaris’ Strategic Advancements and Financial Strength Bolster Buy Rating
- Pharvaris: Buy Rating Backed by Promising Trial Milestones and Strong Financial Position
- Pharvaris price target lowered to $52 from $55 at Citizens JMP