H.C. Wainwright Maintains a Buy Rating on Correvio Pharma Corp (CORV)

By Carrie Williams

H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Correvio Pharma Corp (CORVResearch Report) today and set a price target of $10.50. The company’s shares closed on Friday at $2.15.

Ramakanth observed:

“We maintain our Buy rating of Correvio and our 12-month price target of $10.50 per share. We derive our price target based on the average of two valuation methods:1) price-sales multiple analysis applying a 4x multiple to our 2025 risk-adjusted revenue estimate discounted at 12%; and 2) price-earnings multiple analysis applying an 18x multiple to our 2025 estimated earnings discounted at 12%. 1) commercial; 2) clinical; 3) partnership; 4) financial; and 5) intellectual property.”

According to TipRanks.com, Ramakanth ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.8% and a 30.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Collplant Holdings Ltd.

Currently, the analyst consensus on Correvio Pharma Corp is a Moderate Buy with an average price target of $6.73.

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The company has a one-year high of $5.24 and a one-year low of $1.31. Currently, Correvio Pharma Corp has an average volume of 136.2K.

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Correvio Pharma Corp. is 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. It focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.