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Evercore ISI Thinks PMV Pharmaceuticals’ Stock is Going to Recover

Evercore ISI analyst Joshua Schimmer maintained a Buy rating on PMV Pharmaceuticals (PMVPResearch Report) yesterday and set a price target of $50.00. The company’s shares closed last Monday at $16.99, close to its 52-week low of $14.42.

According to TipRanks.com, Schimmer is a 4-star analyst with an average return of 6.6% and a 46.5% success rate. Schimmer covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Rocket Pharmaceuticals, and Ionis Pharmaceuticals.

Currently, the analyst consensus on PMV Pharmaceuticals is a Strong Buy with an average price target of $49.75, which is a 210.5% upside from current levels. In a report issued on March 2, Oppenheimer also upgraded the stock to Buy with a $30.00 price target.

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Based on PMV Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.01 million. In comparison, last year the company had a GAAP net loss of $10.45 million.

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PMV Pharmaceuticals Inc is a precision oncology company. The company is engaged in the research and development of small molecule, tumor-agnostic therapies targeting p53 mutations, which has the ability to eliminate cancer cells.

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