Analysts Set Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Target Price at $32.00

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $32.00.

CRVS has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Friday, March 13th. Mizuho set a $30.00 price target on Corvus Pharmaceuticals in a report on Thursday, January 29th. Barclays raised their price target on Corvus Pharmaceuticals from $16.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corvus Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group increased their price objective on Corvus Pharmaceuticals from $13.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd.

Corvus Pharmaceuticals Stock Up 3.7%

NASDAQ:CRVS opened at $14.88 on Monday. The business’s 50-day moving average price is $16.86 and its two-hundred day moving average price is $11.64. Corvus Pharmaceuticals has a twelve month low of $2.54 and a twelve month high of $26.95. The stock has a market cap of $1.25 billion, a P/E ratio of -29.76 and a beta of 0.97.

Corvus Pharmaceuticals (NASDAQ:CRVS) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, equities research analysts expect that Corvus Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Corvus Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,629 shares of the company’s stock valued at $28,000 after purchasing an additional 748 shares during the last quarter. Quarry LP bought a new position in shares of Corvus Pharmaceuticals during the 3rd quarter valued at about $27,000. Russell Investments Group Ltd. bought a new position in shares of Corvus Pharmaceuticals during the 3rd quarter valued at about $49,000. Truvestments Capital LLC increased its position in shares of Corvus Pharmaceuticals by 86.1% during the 4th quarter. Truvestments Capital LLC now owns 10,257 shares of the company’s stock valued at $79,000 after purchasing an additional 4,744 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Corvus Pharmaceuticals during the 4th quarter valued at about $85,000. 46.64% of the stock is currently owned by institutional investors.

Corvus Pharmaceuticals Company Profile

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.