PMV Pharmaceuticals & Jefferies Financial Group Analysts
PMV Pharmaceuticals garnered attention from stock analysts at Jefferies Financial Group, who initiated coverage on the company’s shares in a note to investors on Friday, as reported by MarketBeat Ratings. Jefferies set a “buy” rating and a $5.00 price target, implying a potential upside of 194.99% from the stock’s previous close.
Multiple Analysts Bullish on PMV Pharmaceuticals
Several other research firms have also expressed bullish sentiments towards PMV Pharmaceuticals. LADENBURG THALM/SH SH initiated coverage with a “buy” rating and a $7.00 target price, while HC Wainwright reiterated a “buy” rating with a $5.00 target price. These endorsements from reputable analysts signal confidence in PMVP’s growth prospects.
PMVP Stock Performance
Shares of PMV Pharmaceuticals experienced a 7.3% increase, trading up $0.12 during mid-day trading on Friday, reaching $1.70. With a trading volume of 757,929 shares, PMVP outperformed its average volume of 542,447. The stock’s 52-week range spans from a low of $1.18 to a high of $9.72, reflecting volatility in its price movement. PMV Pharmaceuticals boasts a market capitalization of $87.19 million, with a price-to-earnings ratio of -1.22 and a beta of 1.65, indicative of its market risk profile.
Earnings Report Highlights
PMV Pharmaceuticals recently announced its quarterly earnings results, reporting ($0.31) earnings per share for the quarter, surpassing analysts’ consensus estimates by $0.08. Analysts anticipate the company to post a full-year EPS of -1.47 for the current fiscal year, underscoring PMVP’s resilience amidst market challenges.
Institutional Investor Interest
Institutional investors have shown significant interest in PMV Pharmaceuticals, with notable additions to their stakes in the company. State Street Corp, Alkeon Capital Management LLC, Point72 Asset Management L.P., BlackRock Inc., and Woodline Partners LP are among the prominent investors who have either increased or initiated positions in PMVP. Hedge funds and institutional investors collectively own 90.20% of the company’s stock, reflecting institutional confidence in PMVP’s long-term growth prospects.
The initiation of coverage by Jefferies Financial Group, along with positive ratings and price targets from other research firms, underscores the favorable outlook for PMV Pharmaceuticals. Despite market volatility, PMVP’s recent stock performance and strong institutional investor interest position the company for potential growth and value creation in the biopharmaceutical sector.
