Corvus Pharmaceuticals (NASDAQ:CRVS) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Corvus Pharmaceuticals (NASDAQ:CRVS) from a "sell" to a "hold" rating in a report released Saturday.
• Brokerages are largely constructive—Goldman Sachs initiated coverage with a buy rating and a $40 target, and combined analyst coverage yields a consensus of Moderate Buy with an average price target of $33.33 (seven Buys, one Sell).
• CRVS trades around $16.08 (12‑month range $3.16–$26.95) with a market cap of $1.35B and reported a quarterly loss of $0.15 per share, missing estimates by $0.01 and reflecting negative EPS expectations for the year.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the stock. Oppenheimer reiterated an "outperform" rating and set a $33.00 price objective (up from $32.00) on shares of Corvus Pharmaceuticals in a research report on Friday, March 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Corvus Pharmaceuticals in a report on Wednesday, January 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a report on Friday, April 17th. They issued a "buy" rating and a $40.00 price target on the stock. Finally, HC Wainwright upped their price target 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. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.33.

Corvus Pharmaceuticals Stock Up 0.4%

CRVS stock opened at $16.08 on Friday. Corvus Pharmaceuticals has a twelve month low of $3.16 and a twelve month high of $26.95. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -32.16 and a beta of 0.97. The firm's fifty day simple moving average is $15.85 and its two-hundred day simple moving average is $12.35.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last posted its quarterly earnings data 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). As a group, equities research analysts expect that Corvus Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRVS. Geode Capital Management LLC grew its holdings in Corvus Pharmaceuticals by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,361,740 shares of the company's stock worth $5,448,000 after acquiring an additional 771,454 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Corvus Pharmaceuticals by 541.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company's stock worth $122,000 after acquiring an additional 25,681 shares in the last quarter. Rhumbline Advisers grew its holdings in Corvus Pharmaceuticals by 9,501.8% during the 2nd quarter. Rhumbline Advisers now owns 75,950 shares of the company's stock worth $304,000 after acquiring an additional 75,159 shares in the last quarter. Hsbc Holdings PLC bought a new position in Corvus Pharmaceuticals during the 2nd quarter worth about $332,000. Finally, New York State Common Retirement Fund bought a new position in Corvus Pharmaceuticals during the 2nd quarter worth about $95,000. 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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