Corvus Pharmaceuticals (NASDAQ:CRVS) Price Target Raised to $21.00

Corvus Pharmaceuticals (NASDAQ:CRVS) had its price target upped by equities research analysts at LADENBURG THALM/SH SH from $12.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. LADENBURG THALM/SH SH’s price objective would indicate a potential upside of 279.06% from the company’s previous close.

Separately, StockNews.com raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Corvus Pharmaceuticals Price Performance

NASDAQ CRVS traded up $0.44 during mid-day trading on Monday, reaching $5.54. 645,250 shares of the stock were exchanged, compared to its average volume of 259,356. Corvus Pharmaceuticals has a one year low of $1.05 and a one year high of $6.00. The stock has a 50 day simple moving average of $3.35 and a 200-day simple moving average of $2.40. The stock has a market cap of $346.53 million, a P/E ratio of -10.65 and a beta of 1.13.

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. During the same quarter in the prior year, the company posted ($0.14) EPS. Sell-side analysts anticipate that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in Corvus Pharmaceuticals in the second quarter valued at $44,000. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals in the second quarter valued at $136,000. Towerview LLC increased its stake in Corvus Pharmaceuticals by 4.6% in the second quarter. Towerview LLC now owns 400,000 shares of the company’s stock valued at $728,000 after purchasing an additional 17,500 shares in the last quarter. Vanguard Group Inc. increased its stake in Corvus Pharmaceuticals by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after purchasing an additional 142,724 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Corvus Pharmaceuticals in the second quarter valued at $10,855,000. 46.64% of the stock is owned by 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.