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

Corvus Pharmaceuticals (NASDAQ:CRVS) had its target price lifted by research analysts at LADENBURG THALM/SH SH from $12.00 to $21.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. LADENBURG THALM/SH SH’s target price suggests a potential upside of 279.06% from the stock’s current price.

Separately, StockNews.com raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.83.

Corvus Pharmaceuticals Trading Up 8.6 %

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

Corvus Pharmaceuticals (NASDAQ:CRVS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. During the same quarter in the prior year, the company posted ($0.14) earnings per share. As a group, research analysts forecast that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Corvus Pharmaceuticals

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

About Corvus Pharmaceuticals

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.