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

LADENBURG THALM/SH SH started coverage on shares of PMV Pharmaceuticals (NASDAQ:PMVP) in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $3.00 price target on the stock.

Several other equities analysts have also recently issued reports on PMVP. Oppenheimer lowered 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. Evercore raised shares of PMV Pharmaceuticals to a “strong-buy” rating in a report on Monday, April 13th. Finally, Weiss Ratings lowered PMV Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. One investment 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. Based on data from MarketBeat, PMV Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

PMV Pharmaceuticals Stock Performance

Shares of NASDAQ PMVP opened at $1.25 on Wednesday. PMV Pharmaceuticals has a 1 year low of $1.02 and a 1 year high of $1.88. The firm’s 50 day moving average price is $1.23 and its 200 day moving average price is $1.27. The firm has a market cap of $66.66 million, a P/E ratio of -0.84 and a beta of 1.33.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.34) earnings per share 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.

Hedge Funds Weigh In On PMV Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Shay Capital LLC acquired a new stake in shares of PMV Pharmaceuticals in the second quarter valued at about $26,000. Squarepoint Ops LLC boosted its stake in shares of PMV Pharmaceuticals by 101.8% in the fourth quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock valued at $33,000 after buying an additional 13,367 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of PMV Pharmaceuticals by 349.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock worth $34,000 after purchasing an additional 21,334 shares during the period. Algert Global LLC bought a new position in PMV Pharmaceuticals in the third quarter valued at approximately $87,000. Finally, Seven Fleet Capital Management LP acquired a new position in PMV Pharmaceuticals during the fourth quarter valued at approximately $79,000. 90.20% of the stock is owned by institutional investors.

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. 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.