Corvus Pharmaceuticals (NASDAQ:CRVS) Given New $14.00 Price Target at Oppenheimer

Corvus Pharmaceuticals (NASDAQ:CRVS) had its price target raised by equities research analysts at Oppenheimer from $8.00 to $14.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 64.32% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. StockNews.com cut Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. LADENBURG THALM/SH SH boosted their price target on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.83.

Corvus Pharmaceuticals Stock Performance

NASDAQ:CRVS opened at $8.52 on Wednesday. Corvus Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $10.00. The firm has a 50-day moving average price of $6.66 and a two-hundred day moving average price of $3.97. The firm has a market cap of $532.93 million, a price-to-earnings ratio of -9.12 and a beta of 1.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in Corvus Pharmaceuticals in the 2nd quarter valued at about $44,000. Nwam LLC purchased a new position in shares of Corvus Pharmaceuticals in the third quarter worth about $53,000. Oppenheimer & Co. Inc. bought a new stake in shares of Corvus Pharmaceuticals in the third quarter valued at approximately $89,000. Marshall Wace LLP bought a new stake in shares of Corvus Pharmaceuticals in the second quarter valued at approximately $136,000. Finally, Avity Investment Management Inc. lifted its stake in shares of Corvus Pharmaceuticals by 138.2% during the 3rd quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after buying an additional 16,000 shares in the last quarter. Institutional investors own 46.64% of the company’s stock.

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.