Corvus Pharmaceuticals (NASDAQ:CRVS) Price Target Raised to $14.00 at Oppenheimer

Corvus Pharmaceuticals (NASDAQ:CRVS) had its price target raised by analysts at Oppenheimer from $8.00 to $14.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 43.30% from the stock’s previous close.

A number of other equities analysts have also weighed in on CRVS. LADENBURG THALM/SH SH increased their target price on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Mizuho upgraded shares of Corvus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.83.

Corvus Pharmaceuticals Price Performance

NASDAQ:CRVS traded up $1.08 on Wednesday, reaching $9.77. 276,972 shares of the company’s stock were exchanged, compared to its average volume of 353,714. The firm has a market cap of $611.11 million, a price-to-earnings ratio of -21.71 and a beta of 1.05. Corvus Pharmaceuticals has a 52 week low of $1.25 and a 52 week high of $10.00. The stock has a fifty day simple moving average of $6.47 and a 200-day simple moving average of $3.88.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several hedge funds have recently made changes to their positions in CRVS. Nwam LLC purchased a new position in Corvus Pharmaceuticals during the third quarter valued at $53,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Corvus Pharmaceuticals by 64.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,031 shares of the company’s stock valued at $724,000 after buying an additional 53,809 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Corvus Pharmaceuticals during the third quarter valued at $89,000. Avity Investment Management Inc. raised its stake in Corvus Pharmaceuticals by 138.2% during the third quarter. Avity Investment Management Inc. now owns 27,580 shares of the company’s stock valued at $146,000 after buying an additional 16,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Corvus Pharmaceuticals in the second quarter worth $44,000. 46.64% of the stock is currently 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.