PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Receives Consensus Recommendation of “Buy” from Analysts

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) have earned an average recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.80.

Several research firms have commented on PMVP. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of PMV Pharmaceuticals in a research note on Tuesday, August 20th. Oppenheimer upgraded PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a research note on Friday, November 8th.

Institutional Trading of PMV Pharmaceuticals

A number of institutional investors have recently modified their holdings of PMVP. PFM Health Sciences LP lifted its holdings in PMV Pharmaceuticals by 57.7% in the third quarter. PFM Health Sciences LP now owns 2,011,040 shares of the company’s stock valued at $2,996,000 after acquiring an additional 735,578 shares during the period. Sio Capital Management LLC increased its holdings in shares of PMV Pharmaceuticals by 18.7% in the 3rd quarter. Sio Capital Management LLC now owns 3,214,239 shares of the company’s stock valued at $4,789,000 after purchasing an additional 505,831 shares in the last quarter. BML Capital Management LLC lifted its stake in shares of PMV Pharmaceuticals by 29.0% in the third quarter. BML Capital Management LLC now owns 1,688,772 shares of the company’s stock valued at $2,516,000 after purchasing an additional 379,375 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of PMV Pharmaceuticals by 36.1% in the third quarter. Assenagon Asset Management S.A. now owns 353,837 shares of the company’s stock valued at $527,000 after purchasing an additional 93,809 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in PMV Pharmaceuticals by 570.8% during the second quarter. Cubist Systematic Strategies LLC now owns 69,867 shares of the company’s stock worth $113,000 after buying an additional 59,452 shares in the last quarter. 90.20% of the stock is currently owned by hedge funds and other institutional investors.

PMV Pharmaceuticals Price Performance

Shares of PMV Pharmaceuticals stock opened at $1.60 on Friday. The firm’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $1.66. PMV Pharmaceuticals has a 12 month low of $1.40 and a 12 month high of $3.47. The stock has a market capitalization of $82.80 million, a price-to-earnings ratio of -1.60 and a beta of 1.49.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). Analysts anticipate that PMV Pharmaceuticals will post -1.05 earnings per share for the current year.

PMV Pharmaceuticals Company Profile

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.