Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

Several analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Corvus Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $40.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Friday, March 13th. Wall Street Zen downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Oppenheimer reaffirmed 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. Finally, Weiss Ratings raised shares of Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th.

Hedge Funds Weigh In On Corvus Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Orbimed Advisors LLC increased its stake in shares of Corvus Pharmaceuticals by 3.2% in the second quarter. Orbimed Advisors LLC now owns 7,165,006 shares of the company’s stock worth $28,660,000 after acquiring an additional 221,352 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Corvus Pharmaceuticals by 5.8% in the third quarter. Vanguard Group Inc. now owns 3,471,925 shares of the company’s stock worth $25,588,000 after acquiring an additional 191,216 shares during the last quarter. Vivo Capital LLC increased its stake in shares of Corvus Pharmaceuticals by 25.6% in the first quarter. Vivo Capital LLC now owns 2,805,816 shares of the company’s stock worth $41,049,000 after acquiring an additional 571,250 shares during the last quarter. State Street Corp increased its stake in shares of Corvus Pharmaceuticals by 177.1% in the fourth quarter. State Street Corp now owns 2,788,223 shares of the company’s stock worth $21,469,000 after acquiring an additional 1,781,904 shares during the last quarter. Finally, MPM Bioimpact LLC acquired a new position in shares of Corvus Pharmaceuticals in the fourth quarter worth $21,126,000. 46.64% of the stock is owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ:CRVS opened at $12.41 on Tuesday. The company’s fifty day moving average is $14.48 and its two-hundred day moving average is $13.44. Corvus Pharmaceuticals has a 12-month low of $3.55 and a 12-month high of $26.95. The company has a market cap of $1.04 billion, a P/E ratio of -23.86 and a beta of 0.94.

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 the consensus estimate of ($0.14) by ($0.01). Equities research analysts anticipate that Corvus Pharmaceuticals will post -0.7 earnings per share for the current year.

About Corvus Pharmaceuticals

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.