Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $32.00.

A number of research analysts recently commented on CRVS shares. Jefferies Financial Group upped their price objective on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. HC Wainwright upped their price objective on Corvus Pharmaceuticals from $11.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Finally, Oppenheimer restated an “outperform” rating and set a $33.00 price objective (up from $32.00) on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRVS opened at $15.10 on Monday. Corvus Pharmaceuticals has a one year low of $2.80 and a one year high of $26.95. The business’s 50-day simple moving average is $16.65 and its 200 day simple moving average is $11.80. The company has a market cap of $1.27 billion, a P/E ratio of -30.20 and a beta of 0.97.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Analysts predict that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 valued at $28,000 after buying an additional 748 shares during the period. Quarry LP acquired a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at $49,000. Truvestments Capital LLC lifted its holdings 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 valued at $79,000 after buying an additional 4,744 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of Corvus Pharmaceuticals in the fourth quarter valued at $85,000. Institutional investors and hedge funds own 46.64% of the company’s stock.

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.