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

Corvus Pharmaceuticals (NASDAQ:CRVS) was upgraded by equities researchers at Mizuho from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Several other research analysts also recently commented on CRVS. StockNews.com raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday. LADENBURG THALM/SH SH lifted their price objective on Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $10.83.

Corvus Pharmaceuticals Stock Down 2.5 %

Shares of NASDAQ CRVS opened at $7.56 on Tuesday. The company has a market cap of $472.89 million, a P/E ratio of -14.54 and a beta of 1.14. Corvus Pharmaceuticals has a 52 week low of $1.05 and a 52 week high of $8.33. The business has a 50-day simple moving average of $5.25 and a two-hundred day simple moving average of $3.20.

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

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several hedge funds have recently bought and sold shares of CRVS. Point72 Asset Management L.P. purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter valued at $10,855,000. Samlyn Capital LLC increased its stake in Corvus Pharmaceuticals by 160.7% in the second quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after acquiring an additional 3,774,658 shares during 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 acquiring an additional 142,724 shares during the last quarter. Marshall Wace LLP purchased a new stake in Corvus Pharmaceuticals during the second quarter valued at about $136,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Corvus Pharmaceuticals during the second quarter worth about $44,000. 46.64% of the stock is currently 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.