Oppenheimer raises Pharvaris stock price target on trial results

Oppenheimer has raised its price target on Pharvaris B.V. (NASDAQ:PHVS) to $75 from $50 following positive clinical trial data, maintaining an Outperform rating. The decision comes after Pharvaris reported efficacy results from the pivotal CHAPTER-3 study of deucrictibant XR in hereditary angioedema prophylaxis, which matched previously reported Phase 2 results and those of market-leading injectable Takhzyro.

The analyst firm believes the results put deucrictibant XR ahead of Orladeyo, a marketed treatment, and positions Pharvaris as an emerging leader in treating hereditary and other forms of angioedema. The stock has delivered a 61% return over the past year, and the new price target reflects improved assumptions for probability of success and penetration rate.

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