Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Receives $12.83 Consensus Price Target from Analysts

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has been given an average rating of “Buy” by the five analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.38.

A number of analysts have commented on CRVS shares. Oppenheimer upped their price target on Corvus Pharmaceuticals from $8.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. LADENBURG THALM/SH SH raised their price target on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. HC Wainwright started coverage on shares of Corvus Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $11.00 price target on the stock. StockNews.com downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Mizuho upgraded Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently modified their holdings of CRVS. Samlyn Capital LLC lifted its position in Corvus Pharmaceuticals by 160.7% during the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after buying an additional 3,774,658 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Corvus Pharmaceuticals in the 2nd quarter valued at about $136,000. Cubist Systematic Strategies LLC bought a new position in shares of Corvus Pharmaceuticals during the second quarter worth about $44,000. Point72 Asset Management L.P. bought a new stake in Corvus Pharmaceuticals in the second quarter valued at about $10,855,000. Finally, Avity Investment Management Inc. increased its holdings in Corvus Pharmaceuticals by 138.2% in the third 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 during the last quarter. Hedge funds and other institutional investors own 46.64% of the company’s stock.

Corvus Pharmaceuticals Stock Performance

CRVS stock opened at $5.83 on Thursday. Corvus Pharmaceuticals has a 52-week low of $1.30 and a 52-week high of $10.00. The firm has a market capitalization of $374.62 million, a price-to-earnings ratio of -6.27 and a beta of 1.07. The firm has a 50 day moving average price of $7.67 and a 200-day moving average price of $5.29.

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.