Oppenheimer Starts Pharvaris B.V. (PHVS) at Outperform
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Oppenheimer analyst Justin Kim initiates coverage on Pharvaris B.V. (NASDAQ: PHVS) with a Outperform rating and a price target of $48.00.
The analyst commented, "We are initiating on Pharvaris N.V. with an Outperform rating and $48 PT, ahead of a promising clinical development setup in the treatment of hereditary angioedema (HAE). With a resurgence of industry activity in HAE, we appreciate Pharvaris' approach to developing efficacious oral therapy, and potentially addressing both on-demand and prophylactic segments of the disease. As the HAE market has shifted to demand convenience, oral therapy has become the natural desired modality for therapy, which has been challenged by the ability to demonstrate effective inhibition of known targets. Pharvaris' early clinical and preclinical evidence grows our confidence in the potential for success for near-term/ongoing clinical studies. With optionality to treat beyond HAE into other bradykinin-mediated diseases, we are bullish."
Shares of Pharvaris B.V. closed at $39.23 yesterday.
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