Oppenheimer Forecasts Strong Price Appreciation for Corvus Pharmaceuticals (NASDAQ:CRVS) Stock

Corvus Pharmaceuticals (NASDAQ:CRVS) had its price objective boosted by equities researchers at Oppenheimer from $8.00 to $14.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 64.32% from the company’s current price.

Several other research firms have also issued reports on CRVS. LADENBURG THALM/SH SH raised their price target on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Mizuho raised shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.83.

Corvus Pharmaceuticals Trading Down 3.9 %

Shares of CRVS stock opened at $8.52 on Wednesday. The stock has a 50-day moving average of $6.66 and a 200-day moving average of $3.97. The stock has a market cap of $532.93 million, a price-to-earnings ratio of -9.12 and a beta of 1.05. Corvus Pharmaceuticals has a 1-year low of $1.30 and a 1-year high of $10.00.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the period. Towerview LLC lifted its holdings in shares of Corvus Pharmaceuticals by 4.6% in the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after purchasing an additional 17,500 shares in the last quarter. Samlyn Capital LLC grew its position in Corvus Pharmaceuticals by 160.7% in the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock valued at $11,144,000 after purchasing an additional 3,774,658 shares during the period. Marshall Wace LLP bought a new stake in Corvus Pharmaceuticals during the 2nd quarter valued at $136,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Corvus Pharmaceuticals during the second quarter worth $44,000. 46.64% of the stock is owned by institutional investors.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.