Corvus Pharmaceuticals, Inc. (CRVS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $16.00 price objective on the stock.
According to Zacks, “Corvus Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on the development and commercialization of immuno-oncology therapies to harness the immune system to attack cancer cells. Its products include CPI-444, Adenosine production inhibitor, Adenosine A2B antagonist and Interleukin-2 (IL-2)-inducible T cell kinase (ITK) inhibitors. Corvus Pharmaceuticals, Inc. is based in Burlingame, California. “
Several other equities analysts have also recently issued reports on CRVS. Credit Suisse Group upgraded Corvus Pharmaceuticals from an underperform rating to a neutral rating and set a $14.00 price objective for the company in a research note on Wednesday, August 23rd. Wedbush reissued an outperform rating and set a $26.00 target price on shares of Corvus Pharmaceuticals in a research report on Tuesday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $20.25.
Shares of Corvus Pharmaceuticals (NASDAQ CRVS) traded down $0.13 during midday trading on Tuesday, hitting $12.79. The stock had a trading volume of 29,912 shares, compared to its average volume of 107,786. Corvus Pharmaceuticals has a 1-year low of $8.27 and a 1-year high of $22.14.
Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings data on Thursday, November 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. research analysts forecast that Corvus Pharmaceuticals will post -2.82 earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in Corvus Pharmaceuticals by 29.3% in the second quarter. Russell Investments Group Ltd. now owns 9,286 shares of the company’s stock valued at $112,000 after purchasing an additional 2,105 shares during the last quarter. New York State Common Retirement Fund increased its stake in Corvus Pharmaceuticals by 2,269.1% during the second quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock worth $115,000 after acquiring an additional 9,099 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Corvus Pharmaceuticals by 43.3% in the first quarter. TIAA CREF Investment Management LLC now owns 7,181 shares of the company’s stock worth $149,000 after buying an additional 2,170 shares during the period. Alliancebernstein L.P. purchased a new stake in shares of Corvus Pharmaceuticals in the second quarter worth about $175,000. Finally, California State Teachers Retirement System boosted its position in shares of Corvus Pharmaceuticals by 121.2% in the second quarter. California State Teachers Retirement System now owns 14,967 shares of the company’s stock worth $181,000 after buying an additional 8,200 shares during the period. Institutional investors and hedge funds own 83.62% of the company’s stock.
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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