Correvio Pharma (CORV) Sees Unusually-High Trading Volume

Correvio Pharma Corp (NASDAQ:CORV) saw unusually-high trading volume on Friday . Approximately 1,091,128 shares changed hands during mid-day trading, an increase of 484% from the previous session’s volume of 186,736 shares.The stock last traded at $2.24 and had previously closed at $2.17.

CORV has been the subject of several recent analyst reports. Echelon Wealth Partners restated a “buy” rating on shares of Correvio Pharma in a research note on Wednesday, March 13th. HC Wainwright restated a “buy” rating and issued a $10.50 price target on shares of Correvio Pharma in a research note on Friday, March 15th. Finally, Canaccord Genuity set a $7.00 price target on Correvio Pharma and gave the company a “buy” rating in a research note on Monday, March 25th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $8.17.

The company has a debt-to-equity ratio of 7.21, a current ratio of 2.80 and a quick ratio of 2.42. The firm has a market capitalization of $85.69 million, a PE ratio of -2.52 and a beta of 0.53.

Correvio Pharma (NASDAQ:CORV) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.04). Correvio Pharma had a negative return on equity of 375.42% and a negative net margin of 58.25%. The firm had revenue of $7.25 million during the quarter, compared to analyst estimates of $7.91 million. On average, research analysts expect that Correvio Pharma Corp will post -0.72 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Correvio Pharma in the 4th quarter worth about $39,000. Financial Counselors Inc. acquired a new stake in Correvio Pharma in the 1st quarter worth about $116,000. Commonwealth Equity Services LLC boosted its holdings in Correvio Pharma by 43.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 72,373 shares of the company’s stock worth $228,000 after buying an additional 22,016 shares during the last quarter. Columbia Pacific Advisors LLC acquired a new stake in Correvio Pharma in the 4th quarter worth about $251,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Correvio Pharma in the 4th quarter worth about $333,000. Institutional investors own 46.15% of the company’s stock.

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About Correvio Pharma (NASDAQ:CORV)

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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