Pharvaris (NasdaqGS:PHVS) stock is in focus after the company reported detailed Phase 3 RAPIDe-3 and long-term CHAPTER-1 data for its oral hereditary angioedema therapy deucrictibant at the EAACI 2026 Congress.

Against this backdrop of detailed Phase 3 data and conference activity, Pharvaris stock has a 90 day share price return of 17.16% and a 1 year total shareholder return of 85.97%, suggesting building momentum as investors respond to the HAE program updates.

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With Pharvaris stock up 85.97% over the past year and trading at $31.54 against a consensus price target of $46.43, the key question now is whether there is still an opportunity to invest or if markets are already fully reflecting expectations for the company.

DCF valuation suggests Pharvaris stock is heavily discounted

Based on Simply Wall St's DCF model, Pharvaris is valued at $356.79 per share, compared with the last close of $31.54, implying a very large discount to the modelled fair value.

The SWS DCF model estimates the present value of a company by projecting all expected future cash flows and then discounting them back using a required rate of return. That produces a single fair value estimate that investors can compare directly with the current share price.

For a late stage biopharmaceutical company like Pharvaris, which is currently loss making with reported net income of a $168.56m loss and minimal reported revenue, a cash flow based approach can be useful because it focuses on expected future cash generation rather than current earnings. The large gap between the modelled fair value and the current share price reflects inputs about future growth and profitability that go well beyond what is visible in the latest financials.

Result: DCF Fair value of $356.79 (UNDERVALUED)

However, Pharvaris still carries key risks, including reliance on successful deucrictibant trials and regulatory decisions, as well as its current €168.56m net loss profile.

Another view on Pharvaris stock valuation

While the SWS DCF model points to a very large gap between Pharvaris stock and its estimated fair value, the P/B ratio tells a different story. Pharvaris trades at 8x book value, compared with 2.2x for the US pharmaceuticals industry and 4.8x across peers, which signals a rich valuation on this metric.

This kind of premium can reflect strong expectations, but it also raises the question of how much good news is already priced in and how much valuation risk an investor is comfortable carrying.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Pharvaris for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 47 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

Given the mix of optimism and concern around Pharvaris, it is worth looking closely at the numbers and forming your own view quickly. To get a balanced snapshot of both the upside and the downside that other investors are watching, start with these 2 key rewards and 4 important warning signs.

Looking for more investment ideas beyond Pharvaris stock?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.