Barclays Begins Coverage on Corvus Pharmaceuticals (NASDAQ:CRVS)

Key Points

• Barclays has initiated coverage on Corvus Pharmaceuticals (NASDAQ:CRVS) with an "overweight" rating and a price target of $16.00, implying a potential upside of 125.04% from the current stock price.
• Corvus Pharmaceuticals recently reported a quarterly EPS of ($0.10), which exceeded analysts' expectations of ($0.13).
• The stock currently has an average rating of "Moderate Buy" with institutional investors holding 46.64% of the shares.

Analysts at Barclays began coverage on shares of Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $16.00 price target on the stock. Barclays's price objective suggests a potential upside of 125.04% from the stock's previous close.

Several other equities analysts also recently weighed in on CRVS. Weiss Ratings reissued a "sell (d-)" rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen raised Corvus Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Corvus Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $13.75.

Corvus Pharmaceuticals Stock Up 2.6%

Corvus Pharmaceuticals stock opened at $7.11 on Monday. Corvus Pharmaceuticals has a 52 week low of $2.54 and a 52 week high of $10.00. The company has a market capitalization of $529.77 million, a price-to-earnings ratio of -7.04 and a beta of 0.57. The stock has a 50-day moving average price of $5.89 and a 200 day moving average price of $4.52.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.03. Research analysts anticipate that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Institutional Trading of Corvus Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Sowell Financial Services LLC bought a new position in shares of Corvus Pharmaceuticals in the 1st quarter worth $38,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Corvus Pharmaceuticals during the second quarter valued at approximately $49,000. Sender Co & Partners Inc. purchased a new stake in Corvus Pharmaceuticals during the second quarter valued at $52,000. ProShare Advisors LLC purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at $54,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Corvus Pharmaceuticals by 20.2% in the second 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 during the last quarter. 46.64% of the stock is currently 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.