Zacks: Analysts Anticipate Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) to Announce -$0.19 Earnings Per Share

Wall Street brokerages expect Corvus Pharmaceuticals, Inc. (NASDAQ:CRVSGet Rating) to post ($0.19) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Corvus Pharmaceuticals’ earnings. Corvus Pharmaceuticals reported earnings per share of ($0.28) in the same quarter last year, which suggests a positive year-over-year growth rate of 32.1%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Corvus Pharmaceuticals will report full year earnings of ($0.89) per share for the current financial year, with EPS estimates ranging from ($0.96) to ($0.81). For the next year, analysts anticipate that the firm will post earnings of ($1.58) per share. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Corvus Pharmaceuticals.

Corvus Pharmaceuticals (NASDAQ:CRVSGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03).

A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Corvus Pharmaceuticals in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research downgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, March 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Corvus Pharmaceuticals in a research note on Friday, March 11th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corvus Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $5.55.

In other news, CFO Leiv Lea acquired 35,160 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was purchased at an average price of $1.54 per share, for a total transaction of $54,146.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Md Miller acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were purchased at an average price of $1.47 per share, with a total value of $36,750.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 80,160 shares of company stock valued at $123,446. 45.12% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tang Capital Management LLC bought a new position in Corvus Pharmaceuticals in the third quarter valued at approximately $18,147,000. VR Adviser LLC bought a new position in Corvus Pharmaceuticals in the third quarter valued at approximately $16,589,000. Millennium Management LLC lifted its stake in Corvus Pharmaceuticals by 322.4% in the fourth quarter. Millennium Management LLC now owns 2,920,059 shares of the company’s stock valued at $7,037,000 after buying an additional 2,228,687 shares in the last quarter. Vanguard Group Inc. lifted its stake in Corvus Pharmaceuticals by 2.9% in the first quarter. Vanguard Group Inc. now owns 1,267,752 shares of the company’s stock valued at $2,079,000 after buying an additional 36,002 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Corvus Pharmaceuticals by 69.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,043,732 shares of the company’s stock valued at $2,515,000 after buying an additional 429,362 shares in the last quarter. 75.41% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CRVS opened at $1.05 on Tuesday. Corvus Pharmaceuticals has a 1-year low of $1.00 and a 1-year high of $9.54. The firm has a market capitalization of $48.88 million, a price-to-earnings ratio of -1.17 and a beta of 1.06. The company’s 50-day moving average is $1.46 and its two-hundred day moving average is $2.16.

Corvus Pharmaceuticals Company Profile (Get Rating)

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immuno-oncology therapies. Its lead product candidate is Mupadolimab (CPI-006), an anti-CD73 monoclonal antibody, which is in Phase Ib/II clinical trial for non-small cell lung cancer and head and neck cancers.

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