Wedbush Reaffirms Outperform Rating On Pharvaris; PT $42 After Positive Phase 3 CHAPTER-3 Data

Wedbush reiterated its Outperform rating and $42 12-month price target for Pharvaris after the pivotal Phase 3 CHAPTER-3 trial of deucrictibant XR met its primary endpoint and all secondary efficacy endpoints. The positive late-stage clinical readout materially supports the company’s drug-development outlook and investment case.