Correvio Pharma Corp (NASDAQ:CORV) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 545,100 shares, a growth of 7.6% from the July 31st total of 506,400 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 135,500 shares, the days-to-cover ratio is currently 4.0 days.

Several large investors have recently modified their holdings of CORV. Tamarack Advisers LP grew its position in shares of Correvio Pharma by 39.6% in the second quarter. Tamarack Advisers LP now owns 3,350,000 shares of the company’s stock valued at $7,437,000 after purchasing an additional 950,000 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in shares of Correvio Pharma in the second quarter valued at about $1,212,000. ARS Investment Partners LLC grew its position in shares of Correvio Pharma by 24.9% in the second quarter. ARS Investment Partners LLC now owns 422,123 shares of the company’s stock valued at $912,000 after purchasing an additional 84,255 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Correvio Pharma by 1.1% in the first quarter. Westfield Capital Management Co. LP now owns 4,788,032 shares of the company’s stock valued at $15,130,000 after purchasing an additional 50,228 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Correvio Pharma by 177.1% in the second quarter. LPL Financial LLC now owns 63,855 shares of the company’s stock valued at $138,000 after purchasing an additional 40,815 shares during the last quarter. 38.97% of the stock is currently owned by institutional investors.

CORV has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on shares of Correvio Pharma in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $6.00 target price on the stock. ValuEngine raised shares of Correvio Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Correvio Pharma in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $6.75.

Correvio Pharma stock traded up $0.26 during mid-day trading on Friday, hitting $2.75. 226,077 shares of the company’s stock were exchanged, compared to its average volume of 156,188. The stock has a 50 day moving average of $1.89 and a two-hundred day moving average of $2.48. Correvio Pharma has a 1-year low of $1.43 and a 1-year high of $4.70. The company has a current ratio of 1.68, a quick ratio of 1.45 and a debt-to-equity ratio of 7.21.

Correvio Pharma (NASDAQ:CORV) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). The business had revenue of $7.39 million during the quarter, compared to analyst estimates of $7.64 million. Correvio Pharma had a negative net margin of 107.91% and a negative return on equity of 575.20%. On average, analysts forecast that Correvio Pharma will post -0.72 earnings per share for the current fiscal year.

Correvio Pharma Company Profile

Correvio Pharma Corp. operates as a pharmaceutical company, which engages in the provision of development and commercialization of medical products. It operates through the Europe and Rest of the World geographical segments. The firm focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.

Further Reading: Price-Sales Ratio

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