Morgan Stanley expects Pharvaris to be up 10-15% after FDA lifts clinical hold

Morgan Stanley notes that Pharvaris announced that the FDA has lifted the clinical hold of deucrictibant for the prophylactic treatment of hereditary angioedema, or HAE, and expects shares to be up 10%-15% following the news as investors shift their focus to the design and plans to initiate the Phase 3 pivotal trials. The firm, which adds that it is encouraged by the company’s update, maintains an Overweight rating and $35 price target on Pharvaris shares, which are up $2.72, or 10%, to $30.01 in pre-market trading.