Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.25.

A number of research firms have weighed in on CRVS. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Barclays initiated coverage on Corvus Pharmaceuticals in a research report on Monday, October 13th. They set an “overweight” rating and a $16.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Mizuho set a $13.00 price objective on Corvus Pharmaceuticals in a research note on Wednesday, October 29th.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC bought a new stake in Corvus Pharmaceuticals during the 2nd quarter worth about $5,754,000. Geode Capital Management LLC grew its position in shares of Corvus Pharmaceuticals by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company’s stock worth $5,448,000 after buying an additional 771,454 shares during the period. Orbimed Advisors LLC raised its stake in shares of Corvus Pharmaceuticals by 3.2% during the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after buying an additional 221,352 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Corvus Pharmaceuticals in the second quarter valued at approximately $672,000. Finally, Foresite Capital Management VI LLC lifted its holdings in Corvus Pharmaceuticals by 9.5% in the second quarter. Foresite Capital Management VI LLC now owns 1,731,233 shares of the company’s stock valued at $6,925,000 after buying an additional 150,000 shares during the period. 46.64% of the stock is owned by institutional investors.

Corvus Pharmaceuticals Price Performance

Shares of Corvus Pharmaceuticals stock opened at $7.82 on Friday. Corvus Pharmaceuticals has a 52-week low of $2.54 and a 52-week high of $10.00. The firm has a market capitalization of $584.00 million, a PE ratio of -14.75 and a beta of 0.56. The company’s fifty day moving average price is $6.81 and its two-hundred day moving average price is $5.07.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its earnings results on Tuesday, November 4th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. Analysts predict that Corvus Pharmaceuticals will post -0.63 earnings per share for the current fiscal year.

About Corvus Pharmaceuticals

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.