Wall Street Zen Downgrades Corvus Pharmaceuticals (NASDAQ:CRVS) to Sell

Key Points

• Wall Street Zen has downgraded Corvus Pharmaceuticals (NASDAQ:CRVS) from a "hold" to a "sell" rating, reflecting growing concerns among analysts.
• Barclays has initiated coverage with an "overweight" rating and a $16.00 price target, while Weiss Ratings maintained a "sell (d-)" rating.
• Corvus Pharmaceuticals reported ($0.10) earnings per share for its most recent quarter, exceeding the consensus estimate and indicating some degree of operational resilience.

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

Other equities research analysts also recently issued reports about the company. Barclays began coverage on Corvus Pharmaceuticals in a research report on Monday. They set an "overweight" rating and a $16.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.75.

Corvus Pharmaceuticals Price Performance

NASDAQ CRVS opened at $7.04 on Friday. The stock's fifty day moving average price is $6.14 and its 200 day moving average price is $4.61. The company has a market cap of $524.55 million, a price-to-earnings ratio of -6.97 and a beta of 0.57. Corvus Pharmaceuticals has a 1 year low of $2.54 and a 1 year high of $10.00.

Corvus Pharmaceuticals (NASDAQ:CRVS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. Research analysts expect that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Sowell Financial Services LLC purchased a new stake in shares of Corvus Pharmaceuticals during the 1st quarter worth about $38,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $49,000. Sender Co & Partners Inc. purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $52,000. ProShare Advisors LLC purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth about $54,000. Finally, Shelton Wealth Management LLC purchased a new stake in shares of Corvus Pharmaceuticals during the 3rd quarter worth about $101,000. 46.64% of the stock is 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.

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