Correvio Pharma Corp (NASDAQ:CORV) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 491,500 shares, a decrease of 20.2% from the September 30th total of 616,100 shares. Based on an average daily trading volume, of 143,500 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.9% of the shares of the company are sold short.
Institutional investors have recently made changes to their positions in the business. LPL Financial LLC grew its holdings in Correvio Pharma by 177.1% in the 2nd quarter. LPL Financial LLC now owns 63,855 shares of the company’s stock worth $138,000 after acquiring an additional 40,815 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Correvio Pharma by 45.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 105,623 shares of the company’s stock worth $228,000 after acquiring an additional 33,250 shares during the last quarter. ARS Investment Partners LLC grew its holdings in Correvio Pharma by 24.9% in the 2nd quarter. ARS Investment Partners LLC now owns 422,123 shares of the company’s stock worth $912,000 after acquiring an additional 84,255 shares during the last quarter. River & Mercantile Asset Management LLP bought a new stake in Correvio Pharma in the 2nd quarter worth $1,212,000. Finally, Tamarack Advisers LP grew its holdings in Correvio Pharma by 39.6% in the 2nd quarter. Tamarack Advisers LP now owns 3,350,000 shares of the company’s stock worth $7,437,000 after acquiring an additional 950,000 shares during the last quarter. 39.77% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on CORV shares. Cantor Fitzgerald started coverage on shares of Correvio Pharma in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $6.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Correvio Pharma in a research note on Friday. Finally, ValuEngine upgraded shares of Correvio Pharma from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $6.75.
Correvio Pharma (NASDAQ:CORV) last released its earnings results on Thursday, November 14th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.06). Correvio Pharma had a negative net margin of 107.91% and a negative return on equity of 575.20%. The business had revenue of $6.67 million for the quarter, compared to the consensus estimate of $8.87 million. As a group, research analysts anticipate that Correvio Pharma will post -0.72 earnings per share for the current fiscal year.
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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