Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Stock Has Average Price Target of $33.33 According to Analysts

Shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $33.33.

CRVS has been the subject of several recent analyst reports. LADENBURG THALM/SH SH raised shares of Corvus Pharmaceuticals to a “strong-buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Corvus Pharmaceuticals in a report on Wednesday, September 16th. Finally, Weiss Ratings upgraded Corvus Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Corvus Pharmaceuticals during the second quarter valued at $106,654,000. Commodore Capital LP purchased a new stake in shares of Corvus Pharmaceuticals in the first quarter worth about $33,045,000. Perceptive Advisors LLC boosted its position in shares of Corvus Pharmaceuticals by 231.1% during the 1st quarter. Perceptive Advisors LLC now owns 2,292,441 shares of the company’s stock valued at $33,538,000 after acquiring an additional 1,600,000 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Corvus Pharmaceuticals in the second quarter valued at $11,322,000. Finally, DCF Advisers LLC purchased a new position in shares of Corvus Pharmaceuticals in the fourth quarter valued at $5,613,000. Institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Price Performance

Shares of NASDAQ:CRVS opened at $11.52 on Monday. The company has a market capitalization of $969.06 million, a P/E ratio of -18.88 and a beta of 0.87. Corvus Pharmaceuticals has a 1-year low of $6.39 and a 1-year high of $26.95. The firm’s 50 day simple moving average is $13.61 and its two-hundred day simple moving average is $13.90.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). On average, sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.79 earnings per share for the current fiscal year.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that regulate the immune system to treat cancer and other serious diseases. The company’s research is centered on small-molecule and antibody-based therapies designed to influence immune-cell activity and improve the body’s ability to respond to disease.

Corvus’ lead investigational product is soquelitinib, also known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK).