PMV Pharmaceuticals (NASDAQ:PMVP) Raised to “Outperform” at Oppenheimer

PMV Pharmaceuticals (NASDAQ:PMVP) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm currently has a $6.00 target price on the stock. Oppenheimer’s target price suggests a potential upside of 237.08% from the company’s current price.

Separately, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of PMV Pharmaceuticals in a research report on Tuesday, August 20th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $5.80.

PMV Pharmaceuticals Trading Up 7.2 %

Shares of NASDAQ:PMVP opened at $1.78 on Friday. The firm’s 50 day moving average is $1.55 and its two-hundred day moving average is $1.66. The firm has a market capitalization of $91.71 million, a P/E ratio of -1.84 and a beta of 1.49. PMV Pharmaceuticals has a 52 week low of $1.40 and a 52 week high of $3.47.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. Analysts predict that PMV Pharmaceuticals will post -1.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PMVP. Mirae Asset Global Investments Co. Ltd. acquired a new position in PMV Pharmaceuticals in the 1st quarter valued at $26,000. Vanguard Group Inc. grew its stake in PMV Pharmaceuticals by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 2,452,111 shares of the company’s stock valued at $4,169,000 after buying an additional 46,804 shares during the last quarter. Acadian Asset Management LLC grew its stake in PMV Pharmaceuticals by 170.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,080,194 shares of the company’s stock valued at $3,533,000 after buying an additional 1,311,745 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in PMV Pharmaceuticals by 71.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,802 shares of the company’s stock valued at $73,000 after buying an additional 17,858 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in PMV Pharmaceuticals by 174.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 22,757 shares of the company’s stock valued at $39,000 after buying an additional 14,457 shares during the last quarter. 90.20% of the stock is currently owned by institutional investors and hedge funds.

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.