Corvus Pharmaceuticals (NASDAQ:CRVS) Upgraded by LADENBURG THALM/SH SH to “Strong-Buy” Rating

LADENBURG THALM/SH SH upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on CRVS. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. The Goldman Sachs Group began coverage on shares of Corvus Pharmaceuticals in a research report on Friday, April 17th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Wall Street Zen lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Corvus Pharmaceuticals Trading Up 1.2%

Shares of NASDAQ CRVS opened at $13.19 on Thursday. The firm has a 50-day moving average of $13.28 and a two-hundred day moving average of $15.11. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -25.36 and a beta of 0.82. Corvus Pharmaceuticals has a twelve month low of $3.96 and a twelve month high of $26.95.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, research analysts predict that Corvus Pharmaceuticals will post -0.7 earnings per share for the current year.

Insider Transactions at Corvus Pharmaceuticals

In other news, Director David Scott Moore bought 21,700 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $11.53 per share, for a total transaction of $250,201.00. Following the completion of the purchase, the director directly owned 21,700 shares of the company’s stock, valued at $250,201. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.70% of the company’s stock.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Emerald Advisers LLC bought a new stake in Corvus Pharmaceuticals in the first quarter worth approximately $10,039,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Corvus Pharmaceuticals during the 1st quarter valued at about $6,719,000. SEB Asset Management AB acquired a new stake in Corvus Pharmaceuticals in the 1st quarter worth approximately $3,319,000. Commodore Capital LP acquired a new position in Corvus Pharmaceuticals during the first quarter valued at approximately $33,045,000. Finally, Spruce Street Capital LP acquired a new stake in shares of Corvus Pharmaceuticals in the first quarter worth $3,388,000. 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.