Pharvaris (PHVS) is a biotech company developing pills for hereditary angioedema (HAE). HAE is rare, and people with it often develop sudden swelling in the face, hands, stomach, or throat. Unfortunately, when the swelling happens in the throat, it can be deadly. Creating a pill for a disease that can suddenly threaten a life will be a massive step forward for both the people who have it and the pharmaceutical company. Pharvaris seems to be making good progress, which is one reason Bank of America upgraded PHVS to a Buy rating from Neutral on Oct. 23. In addition to the change in rating, the bank also kept its price target at $44. Although BofA didn’t raise its price target, the stock closed that day at $31.41, suggesting the bank still sees substantial upside. Also read: Novo Nordisk’s CEO delivered a warning that sank its stock by 8% BofA sees PHVS as a bargain after the September slide Pharvaris shared strong trial results in September, which usually lift a share, but surprisingly, PHVS pulled back weeks later after the stock initially rose. That’s why analyst Tazeen Ahmad noted in a BofA Global Research report shared with me that the drop looked like a good chance to buy. There is no change in the stock’s fundamentals, Benzinga reported. “We upgrade PHVS to Buy as the recent pullback creates an attractive entry point with clinical risk largely removed,” Ahmad wrote in her note. She said feedback from doctors who treat HAE has been encouraging, adding that “our post-data KOL checks remain positive.” Pharvaris is testing an oral pill for people living with hereditary angioedema, a rare swelling disorder. SOPA Images / Getty Images What makes deucrictibant stand out in HAE treatment The drug that showed strong trial results and led to the upgrade is called deucrictibant, or deucri for short. HAE affects about 1 in 50,000 people, and there are roughly 7,500 patients in the United States, according to the Bank of America note. There are already prevention treatments for HAE. However, deucri stands out because it is a pill with two forms, while most of the other options are injections, which many patients find hard to stick with over the years. The main oral option currently on the market is BioCryst’s (BCRX) Orladeyo, which BofA says reduces attack rates by about 44% to 50%. Related: Medicare just handed Eli Lilly a massive weight-loss win However, deucrictibant’s recent clinical trial showed even better results. In the CHAPTER-3 phase 3 trial reported by Pharvaris, deucrictibant cut attacks by 83% compared with placebo. That is closer to what the leading injectables can do. If the FDA approves deucri, patients could swallow one pill to prevent HAE attacks and another to stop an attack that is already starting. “KOLs see deucri as the likely preferred 1L oral option for new prophy patients,” Ahmad noted. Two 2027 FDA decisions that could reset the stock The FDA will decide about the on-demand version of deucrictibant on April 23, 2027. Pharvaris also plans to file for approval of the prevention version in the first half of 2027, Investing.com reported. Those two decisions could impact the stock positively or negatively. More Pharmaceuticals Stocks: Peptide patients paying up to $1,500 a month face an FDA problem BofA thinks Wall Street is underestimating one J&J drug Jazz Pharmaceuticals gets Cramer’s vote of confidence BofA expects a positive result, and the bank even predicts about $917 million in peak sales for the prevention product, with a 2028 launch target. The firm believes deucrictibant could capture 30% to 50% of the oral prevention market over time if real-world interest from doctors holds up. What PHVS investors should consider BofA flagged some possible risks that could still affect the stock, including long-term safety signals and slow adoption among patients who don’t like to switch drugs often. The note also mentioned that competition from newer injections that patients only have to take once in a while should also be considered. In addition, the FDA hasn’t yet approved deucrictibant, and a single clinical setback or missed approval could quickly send the stock falling. So, as I usually suggest, if you want to buy in now, start off small and wait for clear FDA approval before going all in. That could help reduce your risk. More Stocks News Nvidia-backed Lumentum stock surges 10% as Wall Street sees more upside Musk predicts ‘guppy-level death’ as SpaceX closes $40B GPU deal Scott Bessent just opened the door to a major gold comeback Warren Buffett’s former fintech investment plunges 20%
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