Echelon Wealth Partners downgraded shares of Correvio Pharma (NASDAQ:CORV) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.
CORV has been the topic of a number of other research reports. Cantor Fitzgerald assumed coverage on shares of Correvio Pharma in a research report on Tuesday, September 3rd. They set an overweight rating and a $6.00 target price on the stock. Mackie lowered shares of Correvio Pharma to a hold rating and set a $1.60 target price on the stock. in a research report on Wednesday. HC Wainwright lowered shares of Correvio Pharma from a buy rating to a neutral rating in a report on Wednesday. Finally, Bloom Burton lowered shares of Correvio Pharma from a buy rating to a hold rating in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Correvio Pharma has an average rating of Hold and an average price target of $5.40.
Shares of CORV stock opened at $0.46 on Wednesday. Correvio Pharma has a 1 year low of $0.43 and a 1 year high of $4.44. The firm’s fifty day simple moving average is $2.03 and its 200 day simple moving average is $2.04. The firm has a market capitalization of $70.73 million, a P/E ratio of -0.52 and a beta of 0.49. The company has a current ratio of 1.45, a quick ratio of 1.25 and a debt-to-equity ratio of 22.54.
Correvio Pharma (NASDAQ:CORV) last announced its earnings results on Thursday, November 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.06). Correvio Pharma had a negative return on equity of 1,022.22% and a negative net margin of 121.25%. The company had revenue of $6.67 million for the quarter, compared to the consensus estimate of $8.87 million. Equities research analysts anticipate that Correvio Pharma will post -0.79 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in Correvio Pharma by 177.1% in the 2nd quarter. LPL Financial LLC now owns 63,855 shares of the company’s stock valued at $138,000 after buying an additional 40,815 shares during the period. Commonwealth Equity Services LLC increased its holdings in Correvio Pharma by 45.9% in the 2nd 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 during the period. ARS Investment Partners LLC increased its holdings in Correvio Pharma by 24.9% in the 2nd 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 during the period. River & Mercantile Asset Management LLP bought a new stake in Correvio Pharma in the 2nd quarter valued at $1,212,000. Finally, Tamarack Advisers LP increased its holdings in Correvio Pharma by 39.6% in the 2nd 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 during the period. 48.60% of the stock is currently owned by hedge funds and other institutional investors.
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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