Zacks: Brokerages Anticipate Correvio Pharma Corp (NASDAQ:CORV) Will Post Earnings of -$0.17 Per Share

Analysts forecast that Correvio Pharma Corp (NASDAQ:CORV) will report ($0.17) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Correvio Pharma’s earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.14). Correvio Pharma posted earnings per share of ($0.20) in the same quarter last year, which indicates a positive year over year growth rate of 15%. The firm is expected to report its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Correvio Pharma will report full-year earnings of ($0.72) per share for the current year, with EPS estimates ranging from ($0.86) to ($0.50). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.41) per share, with EPS estimates ranging from ($0.69) to ($0.18). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Correvio Pharma.

Correvio Pharma (NASDAQ:CORV) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). The business had revenue of $7.39 million for the quarter, compared to the consensus estimate of $7.64 million. Correvio Pharma had a negative net margin of 107.91% and a negative return on equity of 575.20%.

CORV has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Correvio Pharma in a research report on Thursday, August 15th. Cantor Fitzgerald initiated coverage on Correvio Pharma in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $6.00 price target on the stock. Finally, ValuEngine upgraded Correvio Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Correvio Pharma currently has an average rating of “Buy” and a consensus price target of $6.75.

NASDAQ:CORV opened at $1.82 on Friday. The firm has a market capitalization of $91.92 million, a price-to-earnings ratio of -2.04 and a beta of 0.46. Correvio Pharma has a 52-week low of $1.43 and a 52-week high of $4.44. The stock has a fifty day moving average of $2.11 and a 200 day moving average of $2.34. The company has a debt-to-equity ratio of 7.21, a quick ratio of 1.45 and a current ratio of 1.68.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its holdings in shares of Correvio Pharma by 45.9% in the second quarter. Commonwealth Equity Services LLC now owns 105,623 shares of the company’s stock worth $228,000 after buying an additional 33,250 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Correvio Pharma by 0.8% in the second quarter. Westfield Capital Management Co. LP now owns 4,825,255 shares of the company’s stock worth $10,423,000 after buying an additional 37,223 shares during the period. LPL Financial LLC increased its holdings in shares of Correvio Pharma by 177.1% in the second quarter. LPL Financial LLC now owns 63,855 shares of the company’s stock worth $138,000 after buying an additional 40,815 shares during the period. ARS Investment Partners LLC increased its holdings in shares of Correvio Pharma by 24.9% in the second quarter. ARS Investment Partners LLC now owns 422,123 shares of the company’s stock worth $912,000 after buying an additional 84,255 shares during the period. Finally, River & Mercantile Asset Management LLP purchased a new position in shares of Correvio Pharma in the second quarter worth about $1,212,000. Institutional investors and hedge funds own 38.97% of the company’s stock.

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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