PMV Pharmaceuticals (NASDAQ:PMVP) Upgraded at Oppenheimer

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) was upgraded by equities researchers at Oppenheimer from a "market perform" rating to an "outperform" rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a $6.00 price target on the stock. Oppenheimer's price objective suggests a potential upside of 240.91% from the stock's previous close.

Separately, 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. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, PMV Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $5.80.

PMV Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ PMVP traded down $0.02 during trading hours on Friday, reaching $1.76. 200,144 shares of the stock traded hands, compared to its average volume of 410,655. The company's 50-day simple moving average is $1.55 and its two-hundred day simple moving average is $1.66. The company has a market capitalization of $90.68 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 - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.32. As a group, sell-side analysts forecast that PMV Pharmaceuticals will post -1.05 earnings per share for the current fiscal year.

Institutional Trading of PMV Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMVP. BML Capital Management LLC increased 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 valued at $2,516,000 after buying an additional 379,375 shares during the period. Assenagon Asset Management S.A. boosted its position in PMV Pharmaceuticals by 36.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 353,837 shares of the company's stock valued at $527,000 after acquiring an additional 93,809 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of PMV Pharmaceuticals by 570.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 69,867 shares of the company's stock worth $113,000 after acquiring an additional 59,452 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PMV Pharmaceuticals in the 2nd quarter worth approximately $101,000. Finally, Evoke Wealth LLC bought a new position in shares of PMV Pharmaceuticals in the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 90.20% of the company's stock.

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.