B. Riley assumed coverage on shares of Correvio Pharma (NASDAQ:CORV) in a research report sent to investors on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $7.00 price target on the stock. B. Riley also issued estimates for Correvio Pharma’s FY2018 earnings at ($1.02) EPS, FY2019 earnings at ($0.66) EPS, FY2020 earnings at ($0.35) EPS, FY2021 earnings at $0.05 EPS and FY2022 earnings at $0.55 EPS.
Other research analysts have also issued reports about the company. HC Wainwright set a $11.00 price target on Correvio Pharma and gave the company a buy rating in a research report on Wednesday, November 7th. Mackie raised Correvio Pharma from a hold rating to a buy rating in a research report on Friday, October 12th. Finally, ValuEngine raised Correvio Pharma from a hold rating to a buy rating in a research report on Thursday, September 6th.
NASDAQ:CORV opened at $3.53 on Tuesday. Correvio Pharma has a 1-year low of $1.31 and a 1-year high of $5.24. The company has a debt-to-equity ratio of 4.02, a quick ratio of 3.46 and a current ratio of 4.05.
Correvio Pharma (NASDAQ:CORV) last posted its quarterly earnings results on Tuesday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $7.01 million for the quarter, compared to analyst estimates of $7.55 million. Correvio Pharma had a negative return on equity of 294.35% and a negative net margin of 68.98%. On average, sell-side analysts expect that Correvio Pharma will post -1 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Putnam Investments LLC acquired a new position in Correvio Pharma during the second quarter valued at $11,688,000. Renaissance Technologies LLC raised its position in Correvio Pharma by 22.1% during the third quarter. Renaissance Technologies LLC now owns 739,248 shares of the company’s stock valued at $2,972,000 after buying an additional 133,825 shares during the period. ARS Investment Partners LLC acquired a new position in Correvio Pharma during the third quarter valued at $1,121,000. Royce & Associates LP acquired a new position in Correvio Pharma during the third quarter valued at $1,025,000. Finally, Worth Venture Partners LLC acquired a new position in Correvio Pharma during the third quarter valued at $173,000. 45.88% of the stock is currently owned by hedge funds and other institutional investors.
Correvio Pharma Company Profile
Correvio Pharma Corp., a specialty pharmaceutical company, provides various products to meet the needs of acute care physicians and patients worldwide. It develops, acquires, and commercializes various brands for the in-hospital acute care market segment. The company's portfolio of marketed brands include Xydalba (dalbavancin hydrochloride) for the treatment of acute bacterial skin and skin structure infections; Zevtera/Mabelio (ceftobiprole medocaril sodium), a cephalosporin antibiotic for the treatment of community and hospital-acquired pneumonia; and Brinavess (vernakalant IV) for the rapid conversion of recent onset atrial fibrillation to sinus rhythm.
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