Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.00.

Several research analysts have commented on the company. Oppenheimer restated an “outperform” rating and issued a $33.00 target price (up from $32.00) on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Barclays upped their price target on Corvus Pharmaceuticals from $16.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Mizuho set a $30.00 price objective on shares of Corvus Pharmaceuticals in a research report on Thursday, January 29th. Wall Street Zen cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Finally, HC Wainwright upped their target price on shares of Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Corvus Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after buying an additional 748 shares in the last quarter. Quarry LP bought a new stake in Corvus Pharmaceuticals during the third quarter valued at $27,000. Russell Investments Group Ltd. purchased a new position in Corvus Pharmaceuticals during the third quarter worth about $49,000. Truvestments Capital LLC increased its stake in Corvus Pharmaceuticals by 86.1% in the 4th quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock worth $79,000 after acquiring an additional 4,744 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in Corvus Pharmaceuticals in the 4th quarter worth about $85,000. 46.64% of the stock is currently owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Price Performance

NASDAQ:CRVS opened at $14.69 on Monday. Corvus Pharmaceuticals has a 1 year low of $2.54 and a 1 year high of $26.95. The stock’s fifty day moving average price is $17.30 and its two-hundred day moving average price is $11.49. The company has a market cap of $1.23 billion, a P/E ratio of -29.38 and a beta of 0.97.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, analysts expect that Corvus Pharmaceuticals will post -0.63 earnings per share for the current fiscal year.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.