Last Updated: 17 Sep 2024
Executive Summary
Corvus Pharmaceuticals Inc. (CRVS) is a clinical-stage biopharmaceutical company focused on developing immuno-oncology therapies. The company has a market capitalization of $319.01 million and is currently trading at $5.78 per share. Analysts have a consensus target price of $7.88, with three strong buy ratings, one buy rating, and one hold rating.
Company Overview
Corvus Pharmaceuticals is headquartered in Burlingame, California. The company's pipeline includes several promising drug candidates, including CPI-006, a monoclonal antibody targeting CD73, and CPI-0209, a small molecule inhibitor of the adenosine A2a receptor. Corvus is also developing a portfolio of companion diagnostics to identify patients who are most likely to benefit from its therapies.
Fundamental Analysis
Corvus Pharmaceuticals is a pre-revenue company, so it does not have any financial metrics to analyze. However, the company has a strong cash position of $138.9 million as of June 30, 2024, which should provide it with sufficient runway to continue its clinical development programs.
Technical Analysis
Corvus Pharmaceuticals' stock price has been in a downtrend since early 2023. The stock recently broke below its 200-day moving average, which is a bearish technical signal. The stock is currently trading near its 52-week low of $1.05.
Short Term Outlook
The short-term outlook for Corvus Pharmaceuticals is bearish. The stock is in a downtrend and has recently broken below its 200-day moving average. The stock is also trading near its 52-week low.
Long Term Outlook
The long-term outlook for Corvus Pharmaceuticals is more positive. The company has a promising pipeline of drug candidates and a strong cash position. If the company's clinical trials are successful, it could become a major player in the immuno-oncology market.
Analyst Recommendations
Analysts have a consensus target price of $7.88 for Corvus Pharmaceuticals, with three strong buy ratings, one buy rating, and one hold rating. The average analyst rating is 3.2, which is equivalent to a buy rating.
