Corvus Pharmaceuticals (NASDAQ:CRVS) Lifted to Strong-Buy at Mizuho

Mizuho upgraded shares of Corvus Pharmaceuticals (NASDAQ:CRVS) from a hold rating to a strong-buy rating in a report issued on Tuesday, Zacks.com reports.

A number of other research analysts have also commented on the company. LADENBURG THALM/SH SH upped their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. StockNews.com upgraded Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $10.83.

Corvus Pharmaceuticals Stock Performance

Shares of NASDAQ CRVS opened at $8.31 on Tuesday. The stock has a market cap of $519.80 million, a price-to-earnings ratio of -15.98 and a beta of 1.14. The business has a 50 day simple moving average of $5.41 and a 200 day simple moving average of $3.28. Corvus Pharmaceuticals has a 52 week low of $1.05 and a 52 week high of $8.69.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. During the same period last year, the business earned ($0.14) EPS. On average, analysts predict that Corvus Pharmaceuticals will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRVS. Point72 Asset Management L.P. acquired a new position in Corvus Pharmaceuticals during the second quarter worth $10,855,000. Samlyn Capital LLC raised its stake in Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after acquiring an additional 3,774,658 shares in the last quarter. Vanguard Group Inc. raised its stake in Corvus Pharmaceuticals by 10.6% during the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock worth $2,658,000 after acquiring an additional 142,724 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Corvus Pharmaceuticals during the second quarter worth $136,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Corvus Pharmaceuticals during the second quarter worth $44,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

About Corvus Pharmaceuticals

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.