FY2029 Earnings Estimate for CRVS Issued By HC Wainwright

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) – Stock analysts at HC Wainwright lowered their FY2029 earnings per share estimates for Corvus Pharmaceuticals in a research note issued to investors on Friday, May 15th. HC Wainwright analyst S. Lee now expects that the company will post earnings per share of $0.07 for the year, down from their previous forecast of $0.14. HC Wainwright currently has a “Buy” rating and a $27.00 target price on the stock. The consensus estimate for Corvus Pharmaceuticals’ current full-year earnings is ($0.66) per share. HC Wainwright also issued estimates for Corvus Pharmaceuticals’ FY2030 earnings at $0.74 EPS.

CRVS has been the topic of several other research reports. Oppenheimer restated an “outperform” rating and set a $33.00 price objective (up from $32.00) on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. Barclays lifted their target price on Corvus Pharmaceuticals from $16.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. The Goldman Sachs Group initiated coverage on Corvus Pharmaceuticals in a report on Friday, April 17th. They issued a “buy” rating and a $40.00 target price on the stock. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.33.

Corvus Pharmaceuticals Price Performance

CRVS stock opened at $12.31 on Monday. Corvus Pharmaceuticals has a 52-week low of $3.38 and a 52-week high of $26.95. The stock’s fifty day simple moving average is $15.14 and its 200-day simple moving average is $13.14. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -23.67 and a beta of 0.94.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01).

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP grew its stake in shares of Corvus Pharmaceuticals by 25.9% in the third quarter. GSA Capital Partners LLP now owns 401,407 shares of the company’s stock valued at $2,958,000 after buying an additional 82,675 shares in the last quarter. NEOS Investment Management LLC acquired a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at about $436,000. Bank of America Corp DE grew its stake in shares of Corvus Pharmaceuticals by 34.7% in the second quarter. Bank of America Corp DE now owns 132,729 shares of the company’s stock valued at $531,000 after buying an additional 34,180 shares in the last quarter. Orbimed Advisors LLC grew its stake in shares of Corvus Pharmaceuticals by 3.2% in the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock valued at $28,660,000 after buying an additional 221,352 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Corvus Pharmaceuticals by 15.1% in the second quarter. Raymond James Financial Inc. now owns 124,496 shares of the company’s stock valued at $498,000 after buying an additional 16,379 shares in the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

About Corvus Pharmaceuticals

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.