Correvio Pharma (CORV) Upgraded by Mackie to Buy

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Mackie upgraded shares of Correvio Pharma (NASDAQ:CORV) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Marketbeat.com reports.

Separately, ValuEngine upgraded shares of Correvio Pharma from a hold rating to a buy rating in a research report on Thursday, September 6th.

Correvio Pharma stock traded up $0.08 during trading hours on Friday, reaching $3.32. 169,828 shares of the company’s stock traded hands, compared to its average volume of 171,016. The company has a current ratio of 4.11, a quick ratio of 3.49 and a debt-to-equity ratio of 2.71. Correvio Pharma has a fifty-two week low of $1.29 and a fifty-two week high of $5.24. The company has a market cap of $140.18 million, a PE ratio of -3.69 and a beta of -0.22.

Correvio Pharma (NASDAQ:CORV) last released its earnings results on Tuesday, August 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.23). Correvio Pharma had a negative net margin of 69.75% and a negative return on equity of 230.15%. The business had revenue of $6.18 million for the quarter, compared to analyst estimates of $7.16 million. Research analysts forecast that Correvio Pharma will post -1.01 EPS for the current year.

A hedge fund recently bought a new stake in Correvio Pharma stock. Putnam Investments LLC bought a new stake in shares of Correvio Pharma Corp (NASDAQ:CORV) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,092,133 shares of the company’s stock, valued at approximately $11,688,000. 45.50% of the stock is owned by institutional investors.

About Correvio Pharma

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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