Corvus Pharmaceuticals (CRVS) Raised to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a strong-buy rating in a research report released on Wednesday. Zacks Investment Research currently has $8.75 price target on the stock.

According to Zacks, “Corvus Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on the development and commercialization of immuno-oncology therapies to harness the immune system to attack cancer cells. Its products include CPI-444, Adenosine production inhibitor, Adenosine A2B antagonist and Interleukin-2 (IL-2)-inducible T cell kinase (ITK) inhibitors. Corvus Pharmaceuticals, Inc. is based in Burlingame, California. “

A number of other equities research analysts have also recently commented on the stock. Cowen restated a buy rating on shares of Corvus Pharmaceuticals in a research note on Friday, November 2nd. Credit Suisse Group upgraded shares of Corvus Pharmaceuticals from a neutral rating to a buy rating and raised their target price for the stock from $11.00 to $15.00 in a research note on Wednesday, August 15th. BidaskClub cut shares of Corvus Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, September 21st. Finally, Wedbush restated an outperform rating on shares of Corvus Pharmaceuticals in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $13.58.

Shares of CRVS traded down $0.08 on Wednesday, reaching $7.91. The company’s stock had a trading volume of 60,547 shares, compared to its average volume of 69,645. The company has a market cap of $231.33 million, a price-to-earnings ratio of -2.91 and a beta of -0.57. Corvus Pharmaceuticals has a 12-month low of $6.81 and a 12-month high of $13.91.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings data on Thursday, November 1st. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.12. As a group, research analysts predict that Corvus Pharmaceuticals will post -1.77 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Corvus Pharmaceuticals by 7.8% during the third quarter. BlackRock Inc. now owns 1,206,520 shares of the company’s stock valued at $10,350,000 after buying an additional 87,013 shares during the last quarter. Millennium Management LLC raised its position in shares of Corvus Pharmaceuticals by 925.6% during the first quarter. Millennium Management LLC now owns 605,303 shares of the company’s stock valued at $6,979,000 after buying an additional 546,286 shares during the last quarter. Cowen Inc. bought a new stake in shares of Corvus Pharmaceuticals during the second quarter valued at approximately $5,868,000. Dimensional Fund Advisors LP raised its position in shares of Corvus Pharmaceuticals by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 156,471 shares of the company’s stock valued at $1,718,000 after buying an additional 22,035 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Corvus Pharmaceuticals by 69.2% during the second quarter. Northern Trust Corp now owns 149,846 shares of the company’s stock valued at $1,645,000 after buying an additional 61,276 shares during the last quarter. Hedge funds and other institutional investors own 88.72% of the company’s stock.

Corvus Pharmaceuticals Company Profile

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.

Further Reading: Earnings Per Share

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