Correvio Pharma (NASDAQ:CORV)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Friday, AnalystRatings.com reports. They currently have a $7.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 219.63% from the company’s current price.
Other research analysts have also recently issued reports about the company. ValuEngine upgraded Correvio Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald started coverage on Correvio Pharma in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $6.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $6.75.
Shares of NASDAQ:CORV traded down $0.05 during trading on Friday, hitting $2.19. The stock had a trading volume of 5,696 shares, compared to its average volume of 177,753. The stock has a 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $2.12. The company has a quick ratio of 1.25, a current ratio of 1.45 and a debt-to-equity ratio of 22.54. The stock has a market capitalization of $114.68 million, a price-to-earnings ratio of -2.46 and a beta of 0.49. Correvio Pharma has a 12-month low of $1.43 and a 12-month high of $4.44.
Correvio Pharma (NASDAQ:CORV) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.06). The company had revenue of $6.67 million for the quarter, compared to analysts’ expectations of $8.87 million. Correvio Pharma had a negative net margin of 121.25% and a negative return on equity of 1,022.22%. As a group, sell-side analysts forecast that Correvio Pharma will post -0.77 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. LPL Financial LLC raised its position in Correvio Pharma by 177.1% during the second quarter. LPL Financial LLC now owns 63,855 shares of the company’s stock valued at $138,000 after acquiring an additional 40,815 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Correvio Pharma by 45.9% in the second quarter. Commonwealth Equity Services LLC now owns 105,623 shares of the company’s stock valued at $228,000 after buying an additional 33,250 shares in the last quarter. ARS Investment Partners LLC increased its position in shares of Correvio Pharma by 24.9% in the second quarter. ARS Investment Partners LLC now owns 422,123 shares of the company’s stock valued at $912,000 after buying an additional 84,255 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of Correvio Pharma in the second quarter valued at approximately $1,212,000. Finally, Tamarack Advisers LP increased its position in shares of Correvio Pharma by 39.6% in the second quarter. Tamarack Advisers LP now owns 3,350,000 shares of the company’s stock valued at $7,437,000 after buying an additional 950,000 shares in the last quarter. Institutional investors own 39.80% of the company’s stock.
About Correvio Pharma
Correvio Pharma Corp. operates as a pharmaceutical company, which engages in the provision of development and commercialization of medical products. It operates through the Europe and Rest of the World geographical segments. The firm focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.
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