UPDATE: Mizuho Securities Downgrades Corvus Pharmaceuticals (CRVS) to Neutral

February 10, 2021 4:36 AM EST
Get Alerts CRVS Hot Sheet
Price: $2.65 -2.21%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 20 | New: 68
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(Updated - February 10, 2021 4:56 AM EST)

Mizuho Securities analyst Mara Goldstein downgraded Corvus Pharmaceuticals (NASDAQ: CRVS) from Buy to Neutral with a price target of $4.00.

The analyst comments "CRVS has reprioritized its pipeline, advancing CPI-006 in a Phase III hospitalized COVID-19 patients study, repositioning ciforadenant to front-line renal cell carcinoma (RCC) in combination with pembrolizumab + a tyrosine kinase inhibitor (TKI), and initiating a CPI-818 Phase II trial in China. The net of this for us is that while the addressable market opportunities are seemingly larger, the timing and uncertainty have prompted us to re-examine our model, which suggests a new lower PT of $4 from $7 and we now rate the shares NEUTRAL from BUY."

For an analyst ratings summary and ratings history on Corvus Pharmaceuticals click here. For more ratings news on Corvus Pharmaceuticals click here.

Shares of Corvus Pharmaceuticals closed at $4.77 yesterday.

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Mara Goldstein