Correvio Pharma (CORV) Stock Rating Reaffirmed by HC Wainwright

Correvio Pharma (NASDAQ:CORV)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report issued on Friday. They presently have a $10.50 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 174.87% from the company’s current price.

The analysts wrote, “We maintain our Buy rating of Correvio and our 12-month price target of $10.50 per share. We derive our price target based on the average of two valuation methods: (1) price-sales multiple analysis applying a 4x multiple to our 2025 risk- adjusted revenue estimate discounted at 12%; and (2) price-earnings multiple analysis applying an 18x multiple to our 2025 estimated earnings discounted at 12%. (1) commercial; (2) clinical; (3) partnership; (4) financial; and (5) intellectual property.””

Separately, B. Riley started coverage on shares of Correvio Pharma in a research note on Tuesday, December 4th. They issued a “buy” rating and a $7.00 target price for the company.

CORV opened at $3.82 on Friday. The company has a quick ratio of 3.46, a current ratio of 4.05 and a debt-to-equity ratio of 4.02. The company has a market cap of $149.76 million, a P/E ratio of -4.24 and a beta of 0.67. Correvio Pharma has a fifty-two week low of $1.50 and a fifty-two week high of $5.24.

Correvio Pharma (NASDAQ:CORV) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $8.95 million during the quarter, compared to the consensus estimate of $8.40 million. Correvio Pharma had a negative net margin of 68.98% and a negative return on equity of 294.35%.

Several institutional investors have recently added to or reduced their stakes in CORV. BlackRock Inc. acquired a new position in shares of Correvio Pharma in the fourth quarter valued at approximately $39,000. Worth Venture Partners LLC acquired a new position in Correvio Pharma during the third quarter worth $173,000. Columbia Pacific Advisors LLC acquired a new position in Correvio Pharma during the fourth quarter worth $251,000. Essex Investment Management Co. LLC acquired a new position in Correvio Pharma during the fourth quarter worth $333,000. Finally, ARS Investment Partners LLC boosted its holdings in Correvio Pharma by 19.7% during the fourth quarter. ARS Investment Partners LLC now owns 333,855 shares of the company’s stock worth $831,000 after purchasing an additional 54,915 shares during the last quarter. Institutional investors own 41.88% of the company’s stock.

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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