Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Stock Rating Reaffirmed by Wedbush
Wedbush reissued their outperform rating on shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in a report published on Tuesday. The brokerage currently has a $26.00 price target on the stock. Wedbush also issued estimates for Corvus Pharmaceuticals’ Q2 2017 earnings at ($0.80) EPS, 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.
A number of other analysts have also commented on the company. Zacks Investment Research upgraded Corvus Pharmaceuticals from a hold rating to a buy rating and set a $14.00 price objective for the company in a research report on Monday, July 17th. Credit Suisse Group lowered their price objective on Corvus Pharmaceuticals from $26.00 to $17.00 and set an outperform rating for the company in a research report on Tuesday, July 4th. Finally, Cowen and Company reiterated an outperform rating on shares of Corvus Pharmaceuticals in a research report on Tuesday, July 4th. Five research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and a consensus target price of $20.50.
Shares of Corvus Pharmaceuticals (NASDAQ CRVS) traded up 0.60% during midday trading on Tuesday, reaching $11.68. 37,735 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $12.15 and a 200-day moving average of $12.83. The company’s market capitalization is $244.51 million. Corvus Pharmaceuticals has a 1-year low of $8.27 and a 1-year high of $22.14.
Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.73) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.03. Equities analysts expect that Corvus Pharmaceuticals will post ($3.18) earnings per share for the current fiscal year.
In related news, insider Richard A. Md Miller bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $9.88 per share, for a total transaction of $247,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Holdings A/S Novo bought 20,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were bought at an average price of $10.95 per share, with a total value of $219,000.00. Following the completion of the transaction, the insider now directly owns 3,244,046 shares in the company, valued at approximately $35,522,303.70. The disclosure for this purchase can be found here.
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new position in Corvus Pharmaceuticals during the second quarter valued at about $320,000. Virtu KCG Holdings LLC bought a new position in Corvus Pharmaceuticals during the second quarter valued at about $213,000. Vanguard Group Inc. raised its position in Corvus Pharmaceuticals by 37.1% in the second quarter. Vanguard Group Inc. now owns 373,512 shares of the company’s stock valued at $4,520,000 after buying an additional 101,013 shares during the last quarter. Northern Trust Corp raised its position in Corvus Pharmaceuticals by 97.6% in the second quarter. Northern Trust Corp now owns 86,525 shares of the company’s stock valued at $1,047,000 after buying an additional 42,739 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Corvus Pharmaceuticals by 2,269.1% in the second quarter. New York State Common Retirement Fund now owns 9,500 shares of the company’s stock valued at $115,000 after buying an additional 9,099 shares during the last quarter. Institutional investors own 82.66% 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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