Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $33.3333.

Several research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Corvus Pharmaceuticals in a research note on Friday, April 17th. They issued a “buy” rating and a $40.00 price target for the company. Mizuho set a $30.00 price target on Corvus Pharmaceuticals in a research note on Thursday, January 29th. Oppenheimer restated an “outperform” rating and issued a $33.00 price target (up from $32.00) on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Finally, Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Corvus Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock worth $28,000 after purchasing an additional 748 shares during the last quarter. Quarry LP purchased a new position in shares of Corvus Pharmaceuticals in the third quarter worth $27,000. Russell Investments Group Ltd. purchased a new position in shares of Corvus Pharmaceuticals in the third quarter worth $49,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Corvus Pharmaceuticals in the first quarter worth $117,000. Finally, Truvestments Capital LLC raised its stake in shares of Corvus Pharmaceuticals by 86.1% in the fourth quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock worth $79,000 after purchasing an additional 4,744 shares during the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRVS opened at $12.61 on Tuesday. The stock has a fifty day simple moving average of $14.68 and a two-hundred day simple moving average of $13.34. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -24.25 and a beta of 0.94. Corvus Pharmaceuticals has a 12-month low of $3.38 and a 12-month high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, equities research analysts predict that Corvus Pharmaceuticals will post -0.7 EPS for the current year.

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.