H.C. Wainwright Thinks Corvus Pharmaceuticals’ Stock is Going to Recover

By Austin Angelo

In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Corvus Pharmaceuticals (CRVSResearch Report), with a price target of $6.00. The company’s shares closed last Monday at $2.14, close to its 52-week low of $2.04.

According to TipRanks.com, Ramakanth is a 5-star analyst with an average return of 28.0% and a 45.5% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals, Janux Therapeutics Inc, and Trillium Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Corvus Pharmaceuticals with a $6.50 average price target.

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Based on Corvus Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $11.58 million. In comparison, last year the company had a GAAP net loss of $12.94 million.

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Corvus Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in the development and commercialization of oncology therapies. The company focuses on disabling cancer’s ability to subvert immune attack by inhibiting adenosine in the tumor microenvironment and by blocking its production by tumors. Its product pipeline includes Adenosine A2A Receptor Antagonist CPI-444, Adenosine Production Inhibitor Anti-CD73, Adenosine A2B Receptor Antagonist, ITK Inhibitor, and Myeloid Cell Suppression. The company was founded by Richard A. Miller, Peter A. Thompson, and Joseph J. Buggy on January 27, 2014 and is headquartered in Burlingame, CA.