Brokers Issue Forecasts for Corvus Pharmaceuticals, Inc.’s Q2 2017 Earnings (CRVS)
Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) – Equities research analysts at Wedbush issued their Q2 2017 earnings per share (EPS) estimates for shares of Corvus Pharmaceuticals in a note issued to investors on Wednesday. Wedbush analyst R. Driscoll expects that the company will earn ($0.80) per share for the quarter. Wedbush has a “Outperform” rating and a $26.00 price objective on the stock. Wedbush also issued estimates for Corvus Pharmaceuticals’ Q3 2017 earnings at ($0.85) EPS, Q4 2017 earnings at ($0.62) EPS, FY2017 earnings at ($3.06) EPS, Q1 2018 earnings at ($0.76) EPS, Q2 2018 earnings at ($0.89) EPS, Q3 2018 earnings at ($1.01) EPS, Q4 2018 earnings at ($0.85) EPS, FY2018 earnings at ($3.51) EPS, FY2019 earnings at ($3.49) EPS, FY2020 earnings at ($3.39) EPS and FY2021 earnings at ($3.08) EPS.
Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.03.
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A number of other equities research analysts also recently commented on CRVS. Credit Suisse Group downgraded Corvus Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $10.00 target price for the company. in a report on Monday, May 1st. Cowen and Company restated a “buy” rating on shares of Corvus Pharmaceuticals in a research report on Tuesday, May 2nd. Finally, Zacks Investment Research cut Corvus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $20.50.
Shares of Corvus Pharmaceuticals (NASDAQ:CRVS) opened at 11.65 on Monday. Corvus Pharmaceuticals has a one year low of $8.27 and a one year high of $22.14. The company has a 50-day moving average of $12.07 and a 200 day moving average of $12.92. The stock’s market cap is $243.88 million.
Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Corvus Pharmaceuticals during the fourth quarter valued at $402,000. Essex Investment Management Co. LLC raised its position in Corvus Pharmaceuticals by 46.7% in the first quarter. Essex Investment Management Co. LLC now owns 31,225 shares of the company’s stock valued at $649,000 after buying an additional 9,933 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Corvus Pharmaceuticals during the first quarter valued at $331,000. TD Asset Management Inc. raised its position in Corvus Pharmaceuticals by 8.1% in the first quarter. TD Asset Management Inc. now owns 24,049 shares of the company’s stock valued at $499,000 after buying an additional 1,805 shares in the last quarter. Finally, TFS Capital LLC purchased a new position in Corvus Pharmaceuticals during the first quarter valued at $356,000. 82.66% of the stock is currently owned by institutional investors and hedge funds.
In other Corvus Pharmaceuticals news, major shareholder Holdings A/S Novo purchased 20,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were purchased at an average cost of $10.95 per share, with a total value of $219,000.00. Following the purchase, the insider now owns 3,244,046 shares in the company, valued at $35,522,303.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard A. Md Miller purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was acquired at an average cost of $9.88 per share, for a total transaction of $247,000.00. The disclosure for this purchase can be found here.
About Corvus Pharmaceuticals
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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