JMP Securities analyst Jonathan Wolleben raised the firm’s price target on Pharvaris to $22 from $18 and keeps an Outperform rating on the shares. The company’s PHVS416 data hit the primary and key secondary endpoints of its Phase 2 trial with "convincing and consistent data", the analyst tells investors in a research note. The data "surpassed our expectations" and the bradykinin receptor antagonist looks like the best oral candidate for acute treatment of HAE attacks, which is a $750M market that is only served by injectables today, Wolleben adds.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on PHVS:
- Pharvaris Soars After Positive Topline Data
- Pharvaris’ PHVS416 in HAE attacks meets primary and secondary endpoints
- Pharvaris Announces Positive Top-line Phase 2 Data from RAPIDe-1 Study of PHVS416 for the On-Demand Treatment of HAE Attacks
- Pharvaris Reports Third Quarter 2022 Financial Results and Provides Business Update
- Pharvaris to present PHVS416, PHVS719 clinical data