Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives “Outperform” Rating from Wedbush
Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a note issued to investors on Tuesday. They currently have a $26.00 price target on the stock. Wedbush’s price target suggests a potential upside of 123.18% from the stock’s previous close. Wedbush also issued estimates for Corvus Pharmaceuticals’ Q2 2017 earnings at ($0.80) EPS, Q3 2017 earnings at ($0.85) EPS, Q4 2017 earnings at ($0.62) EPS, FY2017 earnings at ($3.06) EPS, Q1 2018 earnings at ($0.76) EPS, Q2 2018 earnings at ($0.89) EPS, Q3 2018 earnings at ($1.01) EPS, Q4 2018 earnings at ($0.85) EPS, FY2018 earnings at ($3.51) EPS, FY2019 earnings at ($3.49) EPS, FY2020 earnings at ($3.39) EPS and FY2021 earnings at ($3.08) EPS.
CRVS has been the subject of several other research reports. Cowen and Company reissued an “outperform” rating on shares of Corvus Pharmaceuticals in a research note on Tuesday, July 4th. Credit Suisse Group cut their target price on Corvus Pharmaceuticals from $26.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, July 4th. Finally, Zacks Investment Research raised Corvus Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Monday, July 17th. Five analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $20.50.
Corvus Pharmaceuticals (CRVS) traded down 4.27% during trading on Tuesday, reaching $11.65. The company had a trading volume of 190,903 shares. The company’s 50-day moving average is $12.07 and its 200 day moving average is $12.92. The firm’s market capitalization is $243.88 million. Corvus Pharmaceuticals has a 52 week low of $8.27 and a 52 week high of $22.14.
Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Thursday, August 3rd. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.03. Equities analysts anticipate that Corvus Pharmaceuticals will post ($3.14) EPS for the current year.
In other news, insider Richard A. Md Miller purchased 25,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average cost of $9.88 per share, for a total transaction of $247,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings A/S Novo purchased 20,000 shares of the stock in a transaction dated Friday, June 23rd. The shares were purchased at an average price of $10.95 per share, with a total value of $219,000.00. Following the completion of the transaction, the insider now owns 3,244,046 shares of the company’s stock, valued at $35,522,303.70. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its position in Corvus Pharmaceuticals by 43.3% in the first quarter. TIAA CREF Investment Management LLC now owns 7,181 shares of the company’s stock valued at $149,000 after buying an additional 2,170 shares in the last quarter. Russell Investments Group Ltd. raised its position in Corvus Pharmaceuticals by 29.3% in the second quarter. Russell Investments Group Ltd. now owns 9,286 shares of the company’s stock valued at $112,000 after buying an additional 2,105 shares in the last quarter. BlackRock Inc. purchased a new position in Corvus Pharmaceuticals during the first quarter valued at approximately $174,000. Endurant Capital Management LP purchased a new position in Corvus Pharmaceuticals during the first quarter valued at approximately $282,000. Finally, Oxford Asset Management purchased a new position in Corvus Pharmaceuticals during the first quarter valued at approximately $287,000. Institutional investors and hedge funds own 82.66% of the company’s stock.
Corvus Pharmaceuticals Company Profile
Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.
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