Corvus Pharmaceuticals, Inc. (CRVS) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) from a sell rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Corvus Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on the development and commercialization of immuno-oncology therapies to harness the immune system to attack cancer cells. Its products include CPI-444, Adenosine production inhibitor, Adenosine A2B antagonist and Interleukin-2 (IL-2)-inducible T cell kinase (ITK) inhibitors. Corvus Pharmaceuticals, Inc. is based in Burlingame, California. “

A number of other analysts also recently issued reports on the company. Credit Suisse Group raised Corvus Pharmaceuticals from an underperform rating to a neutral rating and set a $14.00 target price for the company in a research report on Wednesday, August 23rd. Wedbush reiterated an outperform rating and issued a $26.00 price target on shares of Corvus Pharmaceuticals in a research report on Tuesday, August 8th. Finally, Cowen and Company reiterated an outperform rating on shares of Corvus Pharmaceuticals in a research report on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Corvus Pharmaceuticals currently has a consensus rating of Buy and an average price target of $20.75.

Corvus Pharmaceuticals (NASDAQ CRVS) opened at 16.66 on Tuesday. The firm’s market capitalization is $348.76 million. The company’s 50 day moving average price is $16.57 and its 200-day moving average price is $16.57. Corvus Pharmaceuticals has a 12-month low of $13.01 and a 12-month high of $17.64.

Corvus Pharmaceuticals (NASDAQ:CRVS) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.73) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.03. On average, equities analysts anticipate that Corvus Pharmaceuticals will post ($3.18) earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of CRVS. EcoR1 Capital LLC bought a new stake in Corvus Pharmaceuticals during the second quarter worth about $9,741,000. Jennison Associates LLC lifted its stake in Corvus Pharmaceuticals by 87.4% during the second quarter. Jennison Associates LLC now owns 1,019,013 shares of the company’s stock worth $12,330,000 after purchasing an additional 475,164 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Corvus Pharmaceuticals during the first quarter worth about $8,480,000. JPMorgan Chase & Co. lifted its stake in Corvus Pharmaceuticals by 116.0% during the second quarter. JPMorgan Chase & Co. now owns 332,634 shares of the company’s stock worth $4,025,000 after purchasing an additional 178,658 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Corvus Pharmaceuticals by 37.1% during the second quarter. Vanguard Group Inc. now owns 373,512 shares of the company’s stock worth $4,520,000 after purchasing an additional 101,013 shares during the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of immuno-oncology therapies. The Company is developing drugs and antibodies that block crucial immune checkpoints and reprogram immune T-cells. The Company has a pipeline of four immuno-oncology programs, three of which focus on the adenosine-cancer axis to modulate an immune response.

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