Corvus Pharmaceuticals (CRVS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Sean Lee CFA from H.C. Wainwright maintained a Buy rating on the stock and has a $11.00 price target.
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Sean Lee CFA has given his Buy rating due to a combination of factors related to Corvus Pharmaceuticals’ promising developments in their atopic dermatitis (AD) treatment. The company has presented encouraging results from their Phase 1 study of soquelitinib, an innovative ITK inhibitor, which demonstrated superior efficacy compared to placebo and comparable outcomes to existing treatments like Dupixent. The latest data showed significant improvements in EASI and IGA scores, with a notable percentage of patients achieving EASI 75, EASI 90, and IGA 0 or 1, indicating a strong therapeutic potential.
Furthermore, Corvus has announced an expansion cohort to further test the 200 mg BID dose over an extended period, which could enhance the treatment’s effectiveness. The company’s strategic plan includes initiating a Phase 2 study to explore various dosing regimens, potentially increasing the drug’s market competitiveness. Financially, Corvus maintains a stable position with sufficient cash reserves to support operations into late 2026, despite reporting no revenues and a net loss in the recent quarter. These factors collectively underpin the Buy rating, reflecting optimism about the company’s future prospects in the AD treatment market.
In another report released on April 22, Oppenheimer also reiterated a Buy rating on the stock with a $15.00 price target.
CRVS’s price has also changed dramatically for the past six months – from $9.450 to $3.350, which is a -64.55% drop .