Corvus Pharmaceuticals (CRVS) Upgraded to “Buy” by Zacks Investment Research

Corvus Pharmaceuticals (NASDAQ:CRVS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $4.75 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.18% from the company’s current price.

According to Zacks, “Corvus Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on the development and commercialization of immuno-oncology therapies to harness the immune system to attack cancer cells. Its products include CPI-444, Adenosine production inhibitor, Adenosine A2B antagonist and Interleukin-2 (IL-2)-inducible T cell kinase (ITK) inhibitors. Corvus Pharmaceuticals, Inc. is based in Burlingame, California. “

Several other research analysts have also recently issued reports on the company. ValuEngine cut Corvus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. Cowen reiterated a “buy” rating on shares of Corvus Pharmaceuticals in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.25.

NASDAQ:CRVS traded down $0.06 during trading hours on Monday, hitting $4.16. The company’s stock had a trading volume of 33,400 shares, compared to its average volume of 94,804. The stock has a market capitalization of $123.57 million, a price-to-earnings ratio of -1.53 and a beta of 0.99. Corvus Pharmaceuticals has a 52-week low of $3.22 and a 52-week high of $13.91.

In other news, CEO Richard A. Md Miller bought 5,000 shares of the stock in a transaction on Thursday, December 6th. The shares were bought at an average price of $5.99 per share, with a total value of $29,950.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard A. Md Miller bought 20,000 shares of the stock in a transaction on Thursday, December 27th. The stock was purchased at an average cost of $3.29 per share, for a total transaction of $65,800.00. The disclosure for this purchase can be found here. Insiders acquired 81,202 shares of company stock valued at $316,992 in the last quarter. 39.50% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Corvus Pharmaceuticals by 35.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,099 shares of the company’s stock valued at $407,000 after buying an additional 9,782 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Corvus Pharmaceuticals by 48.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 25,900 shares of the company’s stock valued at $285,000 after buying an additional 8,400 shares during the period. BlackRock Inc. raised its holdings in Corvus Pharmaceuticals by 51.9% during the 2nd quarter. BlackRock Inc. now owns 1,119,507 shares of the company’s stock valued at $12,290,000 after buying an additional 382,389 shares during the period. Dimensional Fund Advisors LP raised its holdings in Corvus Pharmaceuticals by 16.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 156,471 shares of the company’s stock valued at $1,718,000 after buying an additional 22,035 shares during the period. Finally, Northern Trust Corp raised its holdings in Corvus Pharmaceuticals by 69.2% during the 2nd quarter. Northern Trust Corp now owns 149,846 shares of the company’s stock valued at $1,645,000 after buying an additional 61,276 shares during the period. 88.32% of the stock is currently owned by institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies that are designed to harness the immune system to attack cancer cells. Its lead product candidate is CPI-444, an oral, small molecule antagonist of the A2A receptor that is in Phase I/Ib clinical trial for adenosine, an immune checkpoint.

Recommended Story: What is the return on assets formula?

Get a free copy of the Zacks research report on Corvus Pharmaceuticals (CRVS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Corvus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corvus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply