Wall Street brokerages expect Correvio Pharma Corp (NASDAQ:CORV) to post $8.20 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Correvio Pharma’s earnings. The highest sales estimate is $8.80 million and the lowest is $7.70 million. Correvio Pharma posted sales of $6.18 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.7%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 13th.
On average, analysts expect that Correvio Pharma will report full-year sales of $33.89 million for the current year, with estimates ranging from $31.47 million to $37.20 million. For the next year, analysts expect that the business will report sales of $51.21 million, with estimates ranging from $45.70 million to $57.59 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Correvio Pharma.
Correvio Pharma (NASDAQ:CORV) last announced its earnings results on Wednesday, May 8th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.04). Correvio Pharma had a negative return on equity of 375.42% and a negative net margin of 58.25%. The company had revenue of $7.25 million during the quarter, compared to the consensus estimate of $7.91 million.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Correvio Pharma during the fourth quarter worth $39,000. Westfield Capital Management Co. LP raised its stake in Correvio Pharma by 1.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,788,032 shares of the company’s stock valued at $15,130,000 after acquiring an additional 50,228 shares during the period. ARS Investment Partners LLC raised its stake in Correvio Pharma by 19.7% in the 4th quarter. ARS Investment Partners LLC now owns 333,855 shares of the company’s stock valued at $831,000 after acquiring an additional 54,915 shares during the period. Royce & Associates LP raised its stake in Correvio Pharma by 89.3% in the 4th quarter. Royce & Associates LP now owns 482,500 shares of the company’s stock valued at $1,201,000 after acquiring an additional 227,600 shares during the period. Finally, Financial Counselors Inc. bought a new stake in Correvio Pharma in the 1st quarter valued at about $116,000. 46.15% of the stock is owned by institutional investors and hedge funds.
Shares of CORV traded down $0.03 on Monday, reaching $2.00. 38,992 shares of the company’s stock were exchanged, compared to its average volume of 109,221. The company has a debt-to-equity ratio of 7.21, a current ratio of 2.80 and a quick ratio of 2.42. The stock has a market cap of $83.27 million, a PE ratio of -2.25 and a beta of 0.49. The stock’s 50 day simple moving average is $2.23. Correvio Pharma has a 12 month low of $1.92 and a 12 month high of $5.24.
About Correvio Pharma
Correvio Pharma Corp. operates as a pharmaceutical company, which engages in the provision of development and commercialization of medical products. It operates through the Europe and Rest of the World geographical segments. The firm focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.
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