Research Analysts Set Expectations for PMV Pharmaceuticals, Inc.’s Q1 2023 Earnings (NASDAQ:PMVP)

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP – Get Rating) – Research analysts at Oppenheimer lowered their Q1 2023 earnings per share (EPS) estimates for PMV Pharmaceuticals in a research report issued to clients and investors on Wednesday, March 1st. Oppenheimer analyst J. Jones now anticipates that the company will earn ($0.49) per share for the quarter, down from their prior forecast of ($0.45). Oppenheimer currently has a “Outperform” rating and a $15.00 price objective on the stock. The consensus estimate for PMV Pharmaceuticals’ current full-year earnings is ($1.89) per share. Oppenheimer also issued estimates for PMV Pharmaceuticals’ Q2 2023 earnings at ($0.50) EPS, Q3 2023 earnings at ($0.51) EPS, Q4 2023 earnings at ($0.44) EPS, FY2023 earnings at ($1.73) EPS, FY2024 earnings at ($1.80) EPS and FY2025 earnings at ($1.88) EPS.

Separately, HC Wainwright reduced their target price on PMV Pharmaceuticals from $63.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, November 17th.

PMV Pharmaceuticals Price Performance

Shares of PMV Pharmaceuticals stock opened at $5.90 on Monday. The business has a 50 day simple moving average of $7.94 and a two-hundred day simple moving average of $10.33. PMV Pharmaceuticals has a 12 month low of $5.74 and a 12 month high of $24.26. The stock has a market capitalization of $270.04 million, a P/E ratio of -3.64 and a beta of 0.99.

Institutional Investors Weigh In On PMV Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in PMV Pharmaceuticals in the second quarter worth approximately $26,000. US Bancorp DE grew its position in PMV Pharmaceuticals by 2,588.0% in the first quarter. US Bancorp DE now owns 2,016 shares of the company’s stock worth $42,000 after acquiring an additional 1,941 shares during the period. Russell Investments Group Ltd. purchased a new position in PMV Pharmaceuticals in the second quarter worth approximately $30,000. Group One Trading L.P. purchased a new position in PMV Pharmaceuticals in the fourth quarter worth approximately $32,000. Finally, Legal & General Group Plc grew its position in PMV Pharmaceuticals by 14.9% in the second quarter. Legal & General Group Plc now owns 8,122 shares of the company’s stock worth $116,000 after acquiring an additional 1,055 shares during the period.

About PMV Pharmaceuticals

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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. The company's lead product candidate is PC14586, a small molecule that corrects a p53 protein containing the Y220C mutation and restores wild-type p53 function.