Barclays Initiates Coverage on Corvus Pharmaceuticals (NASDAQ:CRVS)

Research analysts at Barclays assumed coverage on shares of Corvus Pharmaceuticals (NASDAQ:CRVS) in a research note issued to investors on Monday, MarketBeat reports. The brokerage set an “overweight” rating and a $16.00 price target on the stock. Barclays‘s target price suggests a potential upside of 127.27% from the company’s current price.

Several other brokerages also recently weighed in on CRVS. Wall Street Zen raised Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.75.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS opened at $7.04 on Monday. The business’s 50-day moving average is $5.94 and its two-hundred day moving average is $4.54. The company has a market capitalization of $524.55 million, a P/E ratio of -6.97 and a beta of 0.57. Corvus Pharmaceuticals has a fifty-two week low of $2.54 and a fifty-two week high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. Analysts forecast that Corvus Pharmaceuticals will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVS. Sowell Financial Services LLC purchased a new position in Corvus Pharmaceuticals in the 1st quarter valued at about $38,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Corvus Pharmaceuticals in the 2nd quarter valued at about $49,000. Sender Co & Partners Inc. purchased a new position in Corvus Pharmaceuticals in the 2nd quarter valued at about $52,000. ProShare Advisors LLC purchased a new position in Corvus Pharmaceuticals in the 2nd quarter valued at about $54,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Corvus Pharmaceuticals by 20.2% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 15,488 shares of the company’s stock worth $62,000 after purchasing an additional 2,599 shares in the last quarter. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.