Corvus Pharmaceuticals Inc (CRVS) Given Average Rating of “Buy” by Brokerages

Corvus Pharmaceuticals Inc (NASDAQ:CRVS) has received an average rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $13.58.

A number of research firms recently commented on CRVS. Zacks Investment Research raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $8.75 price target for the company in a research note on Wednesday, November 7th. Cowen reiterated a “buy” rating on shares of Corvus Pharmaceuticals in a research report on Friday, November 2nd. BidaskClub cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Credit Suisse Group upgraded Corvus Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $15.00 in a research report on Wednesday, August 15th. Finally, Wedbush reiterated an “outperform” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, August 8th.

CRVS opened at $5.98 on Monday. Corvus Pharmaceuticals has a fifty-two week low of $5.66 and a fifty-two week high of $13.91. The firm has a market cap of $175.11 million, a PE ratio of -2.20 and a beta of -0.57.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its earnings results on Thursday, November 1st. The company reported ($0.36) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.12. Research analysts forecast that Corvus Pharmaceuticals will post -1.77 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Corvus Pharmaceuticals by 7.8% in the third quarter. BlackRock Inc. now owns 1,206,520 shares of the company’s stock valued at $10,350,000 after acquiring an additional 87,013 shares during the last quarter. Vanguard Group Inc. grew its position in Corvus Pharmaceuticals by 2.0% in the third quarter. Vanguard Group Inc. now owns 677,974 shares of the company’s stock valued at $5,817,000 after acquiring an additional 13,578 shares during the last quarter. Cowen Inc. bought a new position in Corvus Pharmaceuticals in the second quarter valued at about $5,868,000. Renaissance Technologies LLC grew its position in Corvus Pharmaceuticals by 22.2% in the third quarter. Renaissance Technologies LLC now owns 396,900 shares of the company’s stock valued at $3,405,000 after acquiring an additional 72,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Corvus Pharmaceuticals by 66.6% during the third quarter. Dimensional Fund Advisors LP now owns 260,701 shares of the company’s stock worth $2,237,000 after purchasing an additional 104,230 shares during the last quarter. Hedge funds and other institutional investors own 88.24% of the company’s stock.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies that are designed to harness the immune system to attack cancer cells. Its lead product candidate is CPI-444, an oral, small molecule antagonist of the A2A receptor that is in Phase I/Ib clinical trial for adenosine, an immune checkpoint.

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