Pharvaris price target raised to $49 from $40 at JMP Securities

JMP Securities raised the firm’s price target on Pharvaris to $49 from $40 and keeps an Outperform rating on the shares. The FDA lifts the clinical hold on deucrictibant’s prophylactic hereditary angioedema program, and management is requesting an end-of-Phase 2 meeting with the FDA with the goal of starting the global pivotal CHAPTER-3 trial later this year, the analyst tells investors in a research note. The firm likes that management was able to resolve the clinical hold on the prophylactic program on schedule, setting deucrictibant to be in Phase 3 trials for both prophylactic and acute HAE this year.