H.C. Wainwright Keeps a Buy Rating on Correvio Pharma Corp (CORV)


H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Correvio Pharma Corp (CORV) today and set a price target of $10.50. The company’s shares closed yesterday at $2.31, close to its 52-week low of $1.92.

Ramakanth commented:

“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.”

According to TipRanks.com, Ramakanth is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.9% and a 30.3% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as IntelGenx Technologies, Gritstone Oncology Inc, and Trillium Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Correvio Pharma Corp with a $8.75 average price target.

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The company has a one-year high of $5.24 and a one-year low of $1.92. Currently, Correvio Pharma Corp has an average volume of 115K.

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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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