Pharvaris price target raised to $35 from $32 at Morgan Stanley

Morgan Stanley analyst Maxwell Skor raised the firm’s price target on Pharvaris to $35 from $32 and keeps an Overweight rating on the shares after the company reported that deucrictibant for the preventive treatment of hereditary angioedema, or HAE, met the primary endpoint in Phase 2 CHAPTER-1 trial. The data “represent another derisking event” for deucrictibant and “further position it as a viable potential therapy for both the on-demand and prophylactic treatment of HAE,” the analyst tells investors.