Brokerages Set Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Target Price at $31.80

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has received an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.80.

CRVS has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Corvus Pharmaceuticals in a research note on Thursday, December 11th. Wall Street Zen raised shares of Corvus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Oppenheimer increased their price objective on shares of Corvus Pharmaceuticals from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Mizuho set a $30.00 target price on shares of Corvus Pharmaceuticals in a research report on Thursday, January 29th. Finally, Jefferies Financial Group upped their price target on shares of Corvus Pharmaceuticals from $13.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CRVS. Invesco Ltd. lifted its holdings in Corvus Pharmaceuticals by 12.7% during the 4th quarter. Invesco Ltd. now owns 43,583 shares of the company’s stock worth $336,000 after buying an additional 4,910 shares during the period. Virtus Investment Advisers LLC lifted its stake in shares of Corvus Pharmaceuticals by 18.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 31,783 shares of the company’s stock worth $245,000 after acquiring an additional 4,946 shares during the period. Wellington Management Group LLP boosted its holdings in Corvus Pharmaceuticals by 74.7% in the fourth quarter. Wellington Management Group LLP now owns 314,683 shares of the company’s stock valued at $2,423,000 after acquiring an additional 134,508 shares during the last quarter. Millennium Management LLC acquired a new stake in Corvus Pharmaceuticals during the 4th quarter valued at approximately $5,304,000. Finally, Logos Global Management LP bought a new position in Corvus Pharmaceuticals during the 4th quarter worth approximately $3,850,000. 46.64% of the stock is currently owned by institutional investors and hedge funds.

Corvus Pharmaceuticals Price Performance

Shares of CRVS opened at $17.53 on Friday. The firm has a 50 day simple moving average of $13.48 and a two-hundred day simple moving average of $9.18. The company has a market cap of $1.47 billion, a P/E ratio of -33.08 and a beta of 0.73. Corvus Pharmaceuticals has a one year low of $2.54 and a one year high of $26.95.

Corvus Pharmaceuticals Company Profile

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation immuno-oncology therapies. The company’s research efforts are centered on harnessing both the innate and adaptive immune systems to counteract tumor-driven immunosuppression. By targeting key pathways that regulate immune cell function, Corvus aims to create novel agents that can be combined with existing cancer treatments to improve patient outcomes.

Corvus’s lead pipeline candidates include small-molecule and antibody therapies designed to inhibit the adenosine pathway, a known mediator of tumor immune escape.