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

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $33.3333.

A number of equities analysts recently commented on CRVS shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Wall Street Zen downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up from $32.00) on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group started coverage on Corvus Pharmaceuticals in a research note on Friday, April 17th. They issued a “buy” rating and a $40.00 price target for the company.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP grew its stake in Corvus Pharmaceuticals by 25.9% in the third quarter. GSA Capital Partners LLP now owns 401,407 shares of the company’s stock worth $2,958,000 after purchasing an additional 82,675 shares in the last quarter. NEOS Investment Management LLC acquired a new position in Corvus Pharmaceuticals in the third quarter valued at approximately $436,000. Alps Advisors Inc. acquired a new position in Corvus Pharmaceuticals in the fourth quarter valued at approximately $472,000. Price T Rowe Associates Inc. MD boosted its stake in Corvus Pharmaceuticals by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,105 shares of the company’s stock valued at $263,000 after acquiring an additional 1,696 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Corvus Pharmaceuticals by 541.9% in the second quarter. JPMorgan Chase & Co. now owns 30,420 shares of the company’s stock valued at $122,000 after acquiring an additional 25,681 shares during the period. 46.64% of the stock is currently owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ CRVS opened at $12.08 on Tuesday. Corvus Pharmaceuticals has a 1 year low of $3.55 and a 1 year high of $26.95. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -23.23 and a beta of 0.94. The stock’s 50-day simple moving average is $14.44 and its 200-day simple moving average is $13.51.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share (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 EPS for the current year.

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.