Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Corvus Pharmaceuticals a “Moderate Buy”: Six analysts recommend buying the stock, one gives it a strong-buy rating, and one rates it a sell. The average 12-month price target is $33.33, well above the reported share price of $11.62.
• Institutional ownership has increased: BlackRock, Commodore Capital, Bank of America, and other major investors established or expanded positions. Hedge funds and other institutions collectively own 46.64% of the company.
• Recent results fell short of expectations: Corvus reported a quarterly loss of $0.19 per share versus the consensus estimate of a $0.16 loss, while analysts expect a full-year loss of $0.79 per share.

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $33.33.

A number of equities research analysts recently issued reports on CRVS shares. LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, July 30th. Weiss Ratings raised Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Corvus Pharmaceuticals in a report on Wednesday, September 16th.

Institutional Trading of Corvus Pharmaceuticals

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Corvus Pharmaceuticals in the 2nd quarter worth about $106,654,000. Commodore Capital LP purchased a new stake in Corvus Pharmaceuticals in the 1st quarter valued at about $33,045,000. Perceptive Advisors LLC grew its stake in Corvus Pharmaceuticals by 231.1% in the 1st quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company's stock worth $33,538,000 after acquiring an additional 1,600,000 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Corvus Pharmaceuticals during the second quarter worth approximately $11,322,000. Finally, DCF Advisers LLC bought a new stake in shares of Corvus Pharmaceuticals during the fourth quarter valued at approximately $5,613,000. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Stock Performance

Shares of Corvus Pharmaceuticals stock opened at $11.62 on Monday. The company has a market capitalization of $977.47 million, a P/E ratio of -19.05 and a beta of 0.87. The company has a fifty day moving average of $13.76 and a 200 day moving average of $14.01. Corvus Pharmaceuticals has a fifty-two week low of $6.39 and a fifty-two week high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Analysts forecast that Corvus Pharmaceuticals will post -0.79 EPS for the current year.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the immune system to treat cancer and other serious diseases. The company's research is centered on small-molecule and antibody-based therapies designed to influence immune-cell activity and improve the body's ability to respond to disease.

Corvus' lead investigational product is soquelitinib, also known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK).

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