PMV Pharmaceuticals (NASDAQ:PMVP) Coverage Initiated by Analysts at LADENBURG THALM/SH SH

Investment analysts at LADENBURG THALM/SH SH assumed coverage on shares of PMV Pharmaceuticals (NASDAQ:PMVP) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $3.00 price target on the stock. LADENBURG THALM/SH SH’s price target indicates a potential upside of 141.94% from the stock’s previous close.

A number of other brokerages have also recently issued reports on PMVP. Oppenheimer reduced their price objective on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings downgraded PMV Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Finally, Evercore upgraded PMV Pharmaceuticals to a “strong-buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PMV Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $4.00.

PMV Pharmaceuticals Trading Up 2.9%

Shares of NASDAQ:PMVP opened at $1.24 on Wednesday. The stock has a market capitalization of $66.13 million, a P/E ratio of -0.83 and a beta of 1.33. PMV Pharmaceuticals has a 1-year low of $1.02 and a 1-year high of $1.88. The business has a 50-day moving average price of $1.24 and a two-hundred day moving average price of $1.27.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.07. As a group, equities analysts predict that PMV Pharmaceuticals will post -1.45 EPS for the current year.

Institutional Investors Weigh In On PMV Pharmaceuticals

Large investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC raised its stake in PMV Pharmaceuticals by 128.7% during the 1st quarter. ADAR1 Capital Management LLC now owns 231,008 shares of the company’s stock worth $286,000 after buying an additional 130,000 shares during the period. Eversept Partners LP bought a new stake in shares of PMV Pharmaceuticals in the first quarter worth about $2,912,000. Rangeley Capital LLC raised its position in shares of PMV Pharmaceuticals by 46.9% during the first quarter. Rangeley Capital LLC now owns 66,846 shares of the company’s stock worth $83,000 after purchasing an additional 21,346 shares during the period. BML Capital Management LLC raised its position in shares of PMV Pharmaceuticals by 0.5% during the first quarter. BML Capital Management LLC now owns 5,320,000 shares of the company’s stock worth $6,597,000 after purchasing an additional 28,000 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PMV Pharmaceuticals by 156.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 360,786 shares of the company’s stock valued at $447,000 after purchasing an additional 220,318 shares in the last quarter. Institutional investors own 90.20% of the company’s stock.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. It's lead product candidate is PC14586, a small molecule that corrects mutant p53 protein containing the Y220C mutation and restores wild-type p53 function. The company was formerly known as PJ Pharmaceuticals, Inc and changed its name to PMV Pharmaceuticals, Inc in July 2013. PMV Pharmaceuticals, Inc was incorporated in 2013 and is based in Princeton, New Jersey.