Corvus Pharmaceuticals (NASDAQ:CRVS) Upgraded at LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH upgraded Corvus Pharmaceuticals to “strong buy.” Overall analyst sentiment is “Moderate Buy,” with an average price target of $33.33.
• CRVS shares opened at $13.19, compared with a 52-week range of $3.96 to $26.95. The company reported quarterly EPS of $(0.15), slightly below the $(0.14) consensus estimate.
• Institutional investors own 46.64% of the stock, while insiders own 19.70%; director David Scott Moore recently bought 21,700 shares for approximately $250,201.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) was upgraded by investment analysts at LADENBURG THALM/SH SH to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also issued reports on CRVS. Wall Street Zen lowered shares of Corvus Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Corvus Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Finally, The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They set a "buy" rating and a $40.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.33.

Corvus Pharmaceuticals Price Performance

Shares of CRVS opened at $13.19 on Thursday. Corvus Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $26.95. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -25.36 and a beta of 0.82. The business has a 50-day moving average of $13.28 and a 200-day moving average of $15.11.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). As a group, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.7 EPS for the current year.

Insider Buying and Selling

In other Corvus Pharmaceuticals news, Director David Scott Moore bought 21,700 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the acquisition, the director owned 21,700 shares in the company, valued at $250,201. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 19.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Corvus Pharmaceuticals during the 1st quarter worth approximately $6,719,000. Emerald Advisers LLC acquired a new position in shares of Corvus Pharmaceuticals during the 1st quarter valued at $10,039,000. SEB Asset Management AB acquired a new position in shares of Corvus Pharmaceuticals during the 1st quarter valued at $3,319,000. Commodore Capital LP bought a new position in Corvus Pharmaceuticals during the first quarter worth $33,045,000. Finally, Spruce Street Capital LP bought a new position in Corvus Pharmaceuticals during the first quarter worth $3,388,000. 46.64% of the stock is currently owned by institutional investors.

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.

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