PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Stock Has Average Target Price of $4.33 According to Analysts

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $4.33.

A number of research analysts recently commented on PMVP shares. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of PMV Pharmaceuticals in a report on Friday, September 4th. Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. Finally, LADENBURG THALM/SH SH started coverage on PMV Pharmaceuticals in a report on Wednesday, July 8th. They set a “buy” rating and a $3.00 price target for the company.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cooper Haims Advisors LLC purchased a new stake in shares of PMV Pharmaceuticals in the 2nd quarter valued at approximately $52,000. Susquehanna International Group LLP acquired a new stake in PMV Pharmaceuticals in the 2nd quarter valued at approximately $50,000. Stonepine Capital Management LLC acquired a new stake in PMV Pharmaceuticals in the 2nd quarter valued at approximately $718,355. Bank of America Corp DE purchased a new stake in PMV Pharmaceuticals in the second quarter valued at approximately $322,000. Finally, ADAR1 Capital Management LLC purchased a new stake in PMV Pharmaceuticals in the second quarter valued at approximately $269,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

PMV Pharmaceuticals Trading Up 4.8%

PMV Pharmaceuticals stock opened at $1.75 on Tuesday. The company has a 50-day moving average price of $1.31 and a 200 day moving average price of $1.30. PMV Pharmaceuticals has a 12-month low of $1.02 and a 12-month high of $1.91. The stock has a market cap of $93.56 million, a P/E ratio of -1.23 and a beta of 1.35.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its earnings results on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.05. As a group, analysts forecast that PMV Pharmaceuticals will post -1.26 EPS for the current year.

PMV Pharmaceuticals Company Profile

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-driving genetic mutations. The company uses its proprietary research platform to discover and develop small-molecule medicines designed to restore the activity of mutated tumor-suppressor proteins.

PMV’s lead product candidate is rezatapopt (PC14586), an oral small-molecule therapy designed to reactivate the p53 protein when it carries the Y220C mutation. The candidate is being evaluated in patients with advanced solid tumors harboring this specific mutation, including through the company’s PYNNACLE clinical trial.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals focuses on oncology drug discovery and clinical development.