Brokerages expect Corvus Pharmaceuticals Inc (NASDAQ:CRVS) to announce ($0.71) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Corvus Pharmaceuticals’ earnings. Corvus Pharmaceuticals posted earnings of ($0.79) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The business is scheduled to issue its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Corvus Pharmaceuticals will report full-year earnings of ($3.16) per share for the current fiscal year, with EPS estimates ranging from ($3.22) to ($3.09). For the next fiscal year, analysts forecast that the company will report earnings of ($2.93) per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Corvus Pharmaceuticals.
Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, March 1st. The company reported ($0.58) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.18.
Several brokerages have commented on CRVS. ValuEngine downgraded Corvus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Zacks Investment Research lowered Corvus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Cowen reissued a “buy” rating on shares of Corvus Pharmaceuticals in a research report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Corvus Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $20.25.
In other Corvus Pharmaceuticals news, CEO Richard A. Md Miller acquired 100,000 shares of the stock in a transaction dated Monday, March 12th. The stock was purchased at an average cost of $8.50 per share, with a total value of $850,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Adams Street Partners Llc acquired 588,235 shares of the stock in a transaction dated Monday, March 12th. The stock was acquired at an average cost of $8.50 per share, with a total value of $4,999,997.50. Following the completion of the transaction, the insider now owns 4,420,516 shares in the company, valued at approximately $37,574,386. The disclosure for this purchase can be found here. Company insiders own 46.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of CRVS. BlackRock Inc. raised its position in shares of Corvus Pharmaceuticals by 76.0% in the 4th quarter. BlackRock Inc. now owns 669,657 shares of the company’s stock worth $6,937,000 after acquiring an additional 289,096 shares in the last quarter. Vanguard Group Inc. increased its position in Corvus Pharmaceuticals by 37.1% in the 2nd quarter. Vanguard Group Inc. now owns 373,512 shares of the company’s stock valued at $4,520,000 after buying an additional 101,013 shares in the last quarter. Northern Trust Corp increased its position in Corvus Pharmaceuticals by 97.6% in the 2nd quarter. Northern Trust Corp now owns 86,525 shares of the company’s stock valued at $1,047,000 after buying an additional 42,739 shares in the last quarter. Renaissance Technologies LLC increased its position in Corvus Pharmaceuticals by 20.5% in the 4th quarter. Renaissance Technologies LLC now owns 234,200 shares of the company’s stock valued at $2,426,000 after buying an additional 39,900 shares in the last quarter. Finally, Millennium Management LLC increased its position in Corvus Pharmaceuticals by 180.8% in the 4th quarter. Millennium Management LLC now owns 59,017 shares of the company’s stock valued at $611,000 after buying an additional 37,998 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Corvus Pharmaceuticals stock traded down $0.14 on Monday, reaching $10.18. The company’s stock had a trading volume of 115,863 shares, compared to its average volume of 122,728. The firm has a market cap of $217.40, a P/E ratio of -3.72 and a beta of -1.50. Corvus Pharmaceuticals has a 52-week low of $7.42 and a 52-week high of $22.14.
Corvus Pharmaceuticals Company Profile
Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.
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