Corvus Pharmaceuticals (CRVS) PT Raised to $13 at Jefferies

Jefferies analyst Roger Song raised the price target on Corvus Pharmaceuticals (NASDAQ: CRVS) to $13.00 (from $8.00) while maintaining a Buy rating.

The analyst commented: "We caught up with mgmt. Soquelitinib (oral ITKi) will report initial Ph1 AD data from first two doses in Dec '24 which could provide clinical POC of ITK in broader I&I. Co stresses high selectivity which has been bottleneck for small molecule targeting ITK. Ph3 pivotal in R/R PTCL is on track for enrollment. Co plans on Ph1 in solid tumor to start in early '25. Co had $41.7M cash and expects runway into '26. We built AD rev into model and raise PT to $13."

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