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

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) has been given a consensus rating of “Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $5.80.

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

Hedge Funds Weigh In On PMV Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. ArrowMark Colorado Holdings LLC grew its holdings in shares of PMV Pharmaceuticals by 30.0% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,647,291 shares of the company’s stock valued at $5,434,000 after buying an additional 842,509 shares during the period. Sio Capital Management LLC grew its stake in PMV Pharmaceuticals by 18.7% in the third quarter. Sio Capital Management LLC now owns 3,214,239 shares of the company’s stock valued at $4,789,000 after acquiring an additional 505,831 shares during the period. Vanguard Group Inc. grew its stake in PMV Pharmaceuticals by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,452,111 shares of the company’s stock valued at $4,169,000 after acquiring an additional 46,804 shares during the period. PFM Health Sciences LP increased its holdings in shares of PMV Pharmaceuticals by 57.7% in the third quarter. PFM Health Sciences LP now owns 2,011,040 shares of the company’s stock worth $2,996,000 after acquiring an additional 735,578 shares in the last quarter. Finally, BML Capital Management LLC raised its position in shares of PMV Pharmaceuticals by 29.0% during the third quarter. BML Capital Management LLC now owns 1,688,772 shares of the company’s stock worth $2,516,000 after purchasing an additional 379,375 shares during the period. 90.20% of the stock is currently owned by institutional investors and hedge funds.

PMV Pharmaceuticals Price Performance

PMVP opened at $1.59 on Tuesday. The company’s 50 day simple moving average is $1.60 and its 200-day simple moving average is $1.60. PMV Pharmaceuticals has a one year low of $1.40 and a one year high of $3.47. The stock has a market capitalization of $82.28 million, a P/E ratio of -1.59 and a beta of 1.47.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its earnings results on Thursday, November 7th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). As a group, analysts anticipate that PMV Pharmaceuticals will post -1.06 EPS for the current year.

About PMV Pharmaceuticals

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.