Correvio Pharma Corp (NASDAQ:CORV) Given Average Rating of “Buy” by Analysts

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Shares of Correvio Pharma Corp (NASDAQ:CORV) have received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $8.17.

A number of analysts recently weighed in on the stock. Canaccord Genuity set a $7.00 target price on shares of Correvio Pharma and gave the stock a “buy” rating in a report on Monday, March 25th. HC Wainwright reiterated a “buy” rating and issued a $10.50 target price on shares of Correvio Pharma in a research report on Friday, March 15th. Finally, Echelon Wealth Partners reiterated a “buy” rating on shares of Correvio Pharma in a research report on Wednesday, March 13th.

CORV traded down $0.06 on Friday, hitting $2.18. 784 shares of the company’s stock were exchanged, compared to its average volume of 105,051. The firm has a market cap of $90.47 million, a price-to-earnings ratio of -2.58 and a beta of 0.57. Correvio Pharma has a twelve month low of $1.92 and a twelve month high of $5.24. The company has a quick ratio of 2.42, a current ratio of 2.80 and a debt-to-equity ratio of 7.21.

Correvio Pharma (NASDAQ:CORV) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The firm had revenue of $7.25 million during the quarter, compared to analyst estimates of $7.91 million. Correvio Pharma had a negative net margin of 58.25% and a negative return on equity of 375.42%. Research analysts anticipate that Correvio Pharma will post -0.75 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Correvio Pharma during the fourth quarter worth $39,000. Financial Counselors Inc. acquired a new position in shares of Correvio Pharma in the first quarter valued at about $116,000. Commonwealth Equity Services LLC grew its stake in shares of Correvio Pharma by 43.7% in the first quarter. Commonwealth Equity Services LLC now owns 72,373 shares of the company’s stock valued at $228,000 after acquiring an additional 22,016 shares in the last quarter. Columbia Pacific Advisors LLC acquired a new position in shares of Correvio Pharma in the fourth quarter valued at about $251,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Correvio Pharma during the fourth quarter worth about $333,000. Institutional investors own 46.15% of the company’s stock.

Correvio Pharma Company Profile

Correvio Pharma Corp. operates as 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. The firm focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.

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Analyst Recommendations for Correvio Pharma (NASDAQ:CORV)

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