Oppenheimer Forecasts Strong Price Appreciation for Corvus Pharmaceuticals (NASDAQ:CRVS) Stock

Corvus Pharmaceuticals (NASDAQ:CRVS) had its target price boosted by Oppenheimer from $8.00 to $14.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms also recently weighed in on CRVS. Mizuho raised Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. LADENBURG THALM/SH SH boosted 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. Finally, StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Corvus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Corvus Pharmaceuticals Price Performance

Shares of CRVS opened at $8.19 on Wednesday. Corvus Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $10.00. The stock has a market cap of $512.28 million, a PE ratio of -8.81 and a beta of 1.05. The firm has a fifty day moving average price of $6.83 and a 200 day moving average price of $4.05.

Hedge Funds Weigh In On Corvus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in CRVS. Samlyn Capital LLC grew its stake in shares of Corvus Pharmaceuticals by 160.7% in the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after purchasing an additional 3,774,658 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Corvus Pharmaceuticals during the second quarter worth $10,855,000. Vanguard Group Inc. grew its position in Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the last quarter. Marshall Wace LLP acquired a new position in Corvus Pharmaceuticals in the 2nd quarter valued at $136,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Corvus Pharmaceuticals during the 2nd quarter worth $44,000. Institutional investors and hedge funds 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.