Equities analysts expect Correvio Pharma Corp (NASDAQ:CORV) to post $8.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Correvio Pharma’s earnings, with the lowest sales estimate coming in at $7.70 million and the highest estimate coming in at $8.80 million. Correvio Pharma posted sales of $6.18 million during the same quarter last year, which suggests a positive year over year growth rate of 32.7%. The firm is scheduled to announce its next earnings report on Tuesday, August 13th.
On average, analysts expect that Correvio Pharma will report full year sales of $33.89 million for the current year, with estimates ranging from $31.47 million to $37.20 million. For the next fiscal year, analysts forecast that the firm will report sales of $51.21 million, with estimates ranging from $45.70 million to $57.59 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Correvio Pharma.
Correvio Pharma (NASDAQ:CORV) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Correvio Pharma had a negative net margin of 58.25% and a negative return on equity of 375.42%. The company had revenue of $7.25 million for the quarter, compared to the consensus estimate of $7.91 million.
Several institutional investors have recently added to or reduced their stakes in CORV. BlackRock Inc. purchased a new position in shares of Correvio Pharma in the 4th quarter worth about $39,000. Royce & Associates LP raised its stake in Correvio Pharma by 89.3% in the 4th quarter. Royce & Associates LP now owns 482,500 shares of the company’s stock valued at $1,201,000 after acquiring an additional 227,600 shares during the period. ARS Investment Partners LLC raised its stake in Correvio Pharma by 19.7% in the 4th quarter. ARS Investment Partners LLC now owns 333,855 shares of the company’s stock valued at $831,000 after acquiring an additional 54,915 shares during the period. Columbia Pacific Advisors LLC raised its stake in Correvio Pharma by 29.8% in the 1st quarter. Columbia Pacific Advisors LLC now owns 130,709 shares of the company’s stock valued at $413,000 after acquiring an additional 30,000 shares during the period. Finally, Financial Counselors Inc. bought a new stake in Correvio Pharma in the 1st quarter valued at about $116,000. 46.15% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CORV traded down $0.03 on Monday, hitting $2.00. 38,992 shares of the company traded hands, compared to its average volume of 109,221. Correvio Pharma has a 52 week low of $1.92 and a 52 week high of $5.24. The company has a current ratio of 2.80, a quick ratio of 2.42 and a debt-to-equity ratio of 7.21. The business has a 50 day moving average price of $2.23. The company has a market capitalization of $83.27 million, a P/E ratio of -2.25 and a beta of 0.49.
About Correvio Pharma
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.
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