H.C. Wainwright starts coverage of Corvus Pharmaceuticals with 'buy' rating

Corvus Pharmaceuticals

02/01/2025 12:18

** Brokerage H.C. Wainwright starts coverage of Corvus
Pharmaceuticals  CRVS.O  with "buy" rating and PT of $11 
    ** PT represents a 2x upside to stock's Tuesday close
    ** CRVS is testing its experimental drug, soquelitinib, a
first-in-class ITK-specific inhibitor, for the treatment of both
rare cancers and eczema, an autoimmune disease that causes red
and itchy skin rashes
    ** Soquelitinib works by blocking the ITK enzyme, which is
essential for T-cell activation, a type of white blood cells,
reducing T-cell activity and controlling the immune response
    ** Brokerages says the drug "has potential in a variety of
other disorders such as psoriasis, inflammatory bowel disease
and allergic asthma"
    ** If late-stage study of the drug is successful, it could
be approved in the U.S. by 2027, H.C. Wainwright says
    ** Brokerages forecasts soquelitinib to generate combined
revenue of $801 mln by 2034
    ** Stock gained ~204% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))