Analysts Set Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Target Price at $14.25

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.25.

A number of equities research analysts have issued reports on CRVS shares. Barclays started coverage on shares of Corvus Pharmaceuticals in a report on Monday, October 13th. They issued an “overweight” rating and a $16.00 price target on the stock. Mizuho set a $13.00 target price on Corvus Pharmaceuticals in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th.

Corvus Pharmaceuticals Stock Performance

Shares of CRVS stock opened at $8.81 on Tuesday. The company has a market capitalization of $657.93 million, a P/E ratio of -16.62 and a beta of 0.64. Corvus Pharmaceuticals has a fifty-two week low of $2.54 and a fifty-two week high of $9.32. The stock has a 50 day moving average price of $7.84 and a two-hundred day moving average price of $5.76.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its earnings results on Tuesday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. As a group, equities analysts predict that Corvus Pharmaceuticals will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Corvus Pharmaceuticals by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,232 shares of the company’s stock worth $238,000 after purchasing an additional 1,812 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Corvus Pharmaceuticals by 20.2% during the second quarter. China Universal Asset Management Co. Ltd. now owns 15,488 shares of the company’s stock valued at $62,000 after buying an additional 2,599 shares during the period. Quarry LP bought a new position in Corvus Pharmaceuticals in the third quarter worth about $27,000. Ancora Advisors LLC lifted its holdings in Corvus Pharmaceuticals by 9.7% in the third quarter. Ancora Advisors LLC now owns 47,290 shares of the company’s stock worth $349,000 after buying an additional 4,183 shares during the period. Finally, Rhumbline Advisers boosted its position in Corvus Pharmaceuticals by 8.7% during the 3rd quarter. Rhumbline Advisers now owns 82,590 shares of the company’s stock valued at $609,000 after acquiring an additional 6,640 shares in the last quarter. 46.64% of the stock is owned by hedge funds and other institutional investors.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.