TSX:CORV

Stock Analysis Report

Executive Summary

Correvio Pharma Corp., a specialty pharmaceutical company, engages in developing therapeutics worldwide.

Rewards

Earnings are forecast to grow 70.14% per year

Risk Analysis

Has less than 1 year of cash runway

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year

Does not have a meaningful market cap (CA$93M)



Snowflake Analysis

High growth potential with worrying balance sheet.


Similar Companies

Pfizer

NYSE:PFE

Share Price & News

How has Correvio Pharma's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CORV's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-34.1%

CORV

2.5%

CA Pharmaceuticals

0.4%

CA Market


1 Year Return

-60.8%

CORV

-40.5%

CA Pharmaceuticals

11.0%

CA Market

Return vs Industry: CORV underperformed the Canadian Pharmaceuticals industry which returned -40.5% over the past year.

Return vs Market: CORV underperformed the Canadian Market which returned 11% over the past year.


Shareholder returns

CORVIndustryMarket
7 Day-34.1%2.5%0.4%
30 Day-40.1%-10.0%0.01%
90 Day-43.4%-35.5%0.9%
1 Year-60.8%-60.8%-40.5%-40.5%14.7%11.0%
3 Year-50.8%-50.8%42.4%41.5%15.1%4.6%
5 Year-82.3%-82.3%337.9%337.9%37.8%17.4%

Price Volatility Vs. Market

How volatile is Correvio Pharma's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Correvio Pharma undervalued compared to its fair value and its price relative to the market?

45.69x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate CORV's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate CORV's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: CORV is unprofitable, so we can't compare its PE Ratio to the Pharmaceuticals industry average.

PE vs Market: CORV is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CORV's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CORV is overvalued based on its PB Ratio (45.7x) compared to the CA Pharmaceuticals industry average (1.2x).


Next Steps

Future Growth

How is Correvio Pharma forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

70.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CORV is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.4%).

Earnings vs Market: CORV is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CORV's is expected to become profitable in the next 3 years.

Revenue vs Market: CORV's revenue (33% per year) is forecast to grow faster than the Canadian market (4.9% per year).

High Growth Revenue: CORV's revenue (33% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CORV's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Correvio Pharma performed over the past 5 years?

-6.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CORV is currently unprofitable.

Growing Profit Margin: CORV is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CORV is unprofitable, and losses have increased over the past 5 years at a rate of -6.1% per year.

Accelerating Growth: Unable to compare CORV's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CORV is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (-11.3%).


Return on Equity

High ROE: CORV has a negative Return on Equity (-2385.24%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Correvio Pharma's financial position?


Financial Position Analysis

Short Term Liabilities: CORV's short term assets ($31.9M) exceed its short term liabilities ($22.0M).

Long Term Liabilities: CORV's short term assets ($31.9M) do not cover its long term liabilities ($35.9M).


Debt to Equity History and Analysis

Debt Level: CORV's debt to equity ratio (2861.8%) is considered high.

Reducing Debt: CORV's debt to equity ratio has increased from 51.3% to 2861.8% over the past 5 years.


Balance Sheet

Inventory Level: CORV has a low level of unsold assets or inventory.

Debt Coverage by Assets: CORV's debt is not covered by short term assets (assets are 0.7x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CORV has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: CORV has less than a year of cash runway if free cash flow continues to grow at historical rates of 3% each year.


Next Steps

Dividend

What is Correvio Pharma's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.0%markettop25%5.6%industryaverage2.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate CORV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CORV's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CORV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CORV's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CORV's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

What is the CEO of Correvio Pharma's salary, the management and board of directors tenure and is there insider trading?

2.6yrs

Average management tenure


CEO

Mark H. Corrigan (61yo)

0.8yrs

Tenure

US$273,697

Compensation

Dr. Mark H. N. Corrigan, M.D., serves as Independent Director of Wave Life Sciences Ltd. since September 4, 2019. Dr. Corrigan is Lead Independent Director of Blackthorn Therapeutics, Inc. since November 5 ...


Management Age and Tenure

2.6yrs

Average Tenure

60yo

Average Age

Experienced Management: CORV's management team is considered experienced (2.6 years average tenure).


Board Age and Tenure

4.5yrs

Average Tenure

61yo

Average Age

Experienced Board: CORV's board of directors are considered experienced (4.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$58,40416 Jan 19
Justin Renz
EntityIndividual
Role
President
CFO & President
Shares20,000
Max PriceUS$2.92

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.6%.


Management Team

  • Sheila Grant

    Chief Operating Officer

    • Tenure: 6.8yrs
    • Compensation: US$700.34k
  • David McMasters (60yo)

    General Counsel

    • Tenure: 7.1yrs
    • Compensation: US$709.76k
  • Mark H. Corrigan (61yo)

    CEO & Director

    • Tenure: 0.8yrs
    • Compensation: US$273.70k
  • David Dean

    Chief Business Development Officer

    • Tenure: 2.6yrs
  • Justin Renz (47yo)

    CFO & President

    • Tenure: 0.9yrs
    • Compensation: US$886.18k
  • Hugues Sachot

    Chief Commercial Officer

    • Tenure: 3.2yrs
    • Compensation: US$800.49k
  • Brendan Payne

    Associate Director of Investor Relations & Business Development

    • Tenure: 0.9yrs

Board Members

  • Bill Hunter (56yo)

    Director

    • Tenure: 12.5yrs
    • Compensation: US$1.82m
  • Richard Glickman (61yo)

    Independent Director

    • Tenure: 13yrs
    • Compensation: US$171.28k
  • Mark H. Corrigan (61yo)

    CEO & Director

    • Tenure: 0.8yrs
    • Compensation: US$273.70k
  • Jim O'Shea (69yo)

    Chairman

    • Tenure: 4.5yrs
    • Compensation: US$202.83k
  • Vanda De Cian

    Independent Director

    • Tenure: 0.8yrs
  • Arthur Willms

    Independent Director

    • Tenure: 4.5yrs
    • Compensation: US$158.32k
  • Robert Meyer (61yo)

    Independent Director

    • Tenure: 4.3yrs
    • Compensation: US$142.83k

Company Information

Correvio Pharma Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Correvio Pharma Corp.
  • Ticker: CORV
  • Exchange: TSX
  • Founded: 2018
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: CA$92.959m
  • Shares outstanding: 50.52m
  • Website: https://www.correvio.com

Number of Employees


Location

  • Correvio Pharma Corp.
  • 1441 Creekside Drive
  • 6th Floor
  • Vancouver
  • British Columbia
  • V6J 4S7
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CORVTSX (The Toronto Stock Exchange)YesCommon SharesCACADJan 1990
CORVNasdaqCM (Nasdaq Capital Market)YesCommon SharesUSUSDJan 1990
72RDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1990

Biography

Correvio Pharma Corp., a specialty pharmaceutical company, engages in developing therapeutics worldwide. Its portfolio of marketed brands comprise Aggrastat (tirofiban hydrochloride) for patients with acut ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/10 23:50
End of Day Share Price2019/12/09 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.