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

Key Points

• Moderate Buy consensus from eight analysts (seven buy, one sell) with an average 1‑year price target of $33.33.
• Several firms recently raised targets or began coverage — Jefferies lifted its target to $42, Goldman Sachs initiated coverage with a $40 buy, and Barclays and HC Wainwright raised targets to $28 and $27 respectively.
• Shares opened at $15.19 (12‑month range $3.16–$26.95), the company has a market cap of $1.28B and negative earnings (P/E -30.38), and institutional/hedge fund ownership stands at about 46.64%.

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS - Get Free Report) have been given an average rating of "Moderate Buy" by the eight research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $33.3333.

A number of equities analysts have recently commented on CRVS shares. Jefferies Financial Group increased their price target on shares of Corvus Pharmaceuticals from $13.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. HC Wainwright lifted their price objective 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. The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They issued a "buy" rating and a $40.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Finally, Barclays raised 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.

Corvus Pharmaceuticals Trading Up 5.3%

Shares of NASDAQ CRVS opened at $15.19 on Friday. Corvus Pharmaceuticals has a 12 month low of $3.16 and a 12 month high of $26.95. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -30.38 and a beta of 0.97. The business has a 50-day moving average of $15.64 and a 200-day moving average of $12.58.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). On average, analysts predict that Corvus Pharmaceuticals will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Orbimed Advisors LLC lifted its position in Corvus Pharmaceuticals by 3.2% in the 2nd 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. Vanguard Group Inc. boosted its stake in Corvus Pharmaceuticals by 5.8% in the third quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company's stock worth $25,588,000 after buying an additional 191,216 shares in the last quarter. State Street Corp grew its position in Corvus Pharmaceuticals by 177.1% during the fourth quarter. State Street Corp now owns 2,788,223 shares of the company's stock valued at $21,469,000 after acquiring an additional 1,781,904 shares during the last quarter. MPM Bioimpact LLC bought a new position in Corvus Pharmaceuticals during the fourth quarter valued at approximately $21,126,000. Finally, Geode Capital Management LLC raised its stake in shares of Corvus Pharmaceuticals by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,473,026 shares of the company's stock worth $11,345,000 after acquiring an additional 16,498 shares in the last quarter. 46.64% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.