PMV Pharmaceuticals Q2 loss narrows on lower R&D expenses
PMVP•Analyst coverage
The current average analyst rating on the shares is buy, with 6 analysts rating it strong buy or buy, no hold ratings and no sell or strong sell ratings.
The average consensus recommendation for the biotechnology and medical research peer group is buy.
Wall Street's median 12-month price target for PMV Pharmaceuticals, Inc. is $4.00, about 229.2% above its August 13 closing price of $1.22.
Q2 loss narrows as expenses fall
PMV Pharmaceuticals said its second-quarter net loss narrowed year over year, mainly due to lower research and development and general and administrative costs.
| Metric | Actual |
|---|---|
| Q2 Loss Per Share | $0.34 |
| Q2 Net Loss | $18.09 mln |
| Q2 Operating Expenses | $18.88 mln |
| Q2 Operating Income | -$18.88 mln |
The company said the decrease in research and development expenses was mainly due to reduced contract research organization costs for the rezatapopt program. It attributed lower general and administrative costs to reduced personnel expenses and decreased finance support costs.
