Corvus Pharmaceuticals Reports Quarterly Earnings Results

Corvus Pharmaceuticals (NASDAQ:CRVS) released its quarterly earnings results this Tuesday. The company reported an earnings per share (EPS) of ($0.18) for the quarter, which is lower than the consensus estimate of ($0.12) by ($0.06), according to reports from Zacks.

Corvus Pharmaceuticals Stock Performance

During trading on Tuesday, shares of Corvus Pharmaceuticals fell by $0.27, bringing the stock price down to $3.98. A total of 959,178 shares were exchanged, exceeding the average trading volume of 564,653 shares. The market capitalization of the company stands at $255.74 million, with a PE ratio of -4.28 and a beta of 0.91. The stock has a 50-day moving average price of $4.72 and a 200-day moving average price of $6.10. Over the past year, Corvus Pharmaceuticals has experienced a low of $1.30 and a high of $10.00.

Analyst Outlook on Corvus Pharmaceuticals

In related news, HC Wainwright reaffirmed a "buy" rating for Corvus Pharmaceuticals, setting a price target of $11.00 per share in their research note dated January 14th. Among market analysts, one has issued a sell rating, while four have recommended a buy, and one analyst has given a strong buy rating. According to MarketBeat, the average analyst rating for the company is a "Moderate Buy," with an average price target of $12.38.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical firm that specializes in the development and commercialization of immune modulators aimed at treating solid tumors, T cell lymphomas, autoimmune disorders, allergies, and infectious diseases. The company's leading product candidate is soquelitinib (CPI-818), which is a selective covalent inhibitor targeting interleukin 2 inducible T cell kinase (ITK). It is currently being evaluated in a multi-center Phase 1/1b clinical trial for treating peripheral T cell lymphoma, solid tumors, and atopic dermatitis.

Investment Considerations

For those considering an investment in Corvus Pharmaceuticals, it is important to note that although the stock has a current Buy rating, market analysts have identified five other stocks that they believe may present better investment opportunities at this time.

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Earnings, Stocks, Pharmaceuticals