Mizuho Securities Sticks to Its Buy Rating for Corvus Pharmaceuticals Inc (CRVS)

By Ryan Adsit

In a report released today, Mara Goldstein from Mizuho Securities maintained a Buy rating on Corvus Pharmaceuticals Inc (CRVSResearch Report), with a price target of $7. The company’s shares closed last Monday at $4.15, close to its 52-week low of $3.20.

Goldstein noted:

“We initiate coverage of CRVS at $7 PT. We like the adenosine (ADO)-A2AR pathway and believe there is promise in combination therapy. The shares have struggled due to, in our view, underwhelming ciforadenant monotherapy data but we see CPI-006 as the opportunity to reset expectations.”

According to TipRanks.com, Goldstein is ranked 0 out of 5 stars with an average return of -6.2% and a 32.4% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Fate Therapeutics, and Merck & Company.

The word on The Street in general, suggests a Hold analyst consensus rating for Corvus Pharmaceuticals Inc.

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Based on Corvus Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.98 million. In comparison, last year the company had a GAAP net loss of $11.63 million.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRVS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.