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

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $29.80.

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Jefferies Financial Group upped their price objective on shares of Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Barclays raised their target price on Corvus Pharmaceuticals from $16.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Oppenheimer boosted their price target on Corvus Pharmaceuticals from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, January 21st.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRVS opened at $22.08 on Wednesday. The company has a market cap of $1.85 billion, a P/E ratio of -41.66 and a beta of 0.70. Corvus Pharmaceuticals has a one year low of $2.54 and a one year high of $26.95. The business’s 50-day simple moving average is $9.75 and its 200 day simple moving average is $7.42.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Analysts predict that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Institutional Trading of Corvus Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased 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 buying an additional 748 shares during the last quarter. Quarry LP acquired a new position in Corvus Pharmaceuticals during the 3rd quarter worth $27,000. Russell Investments Group Ltd. bought a new stake in shares of Corvus Pharmaceuticals in the 3rd quarter worth about $49,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter worth about $49,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Corvus Pharmaceuticals by 125.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,516 shares of the company’s stock valued at $92,000 after purchasing an additional 6,975 shares in the last quarter. 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.