CRVS - Corvus Pharmaceuticals initiated buy at Cantor with a Street-high target

Corvus Pharmaceuticals ([[CRVS]] +4.1%) runs two clinical programs: Phase 3 study for the lead asset CPI-006 to treat hospitalized patients with COVID-19, CPI-818, a small molecule ITK inhibitor waiting for a Phase 2 trial in refractory peripheral T cell lymphoma ((PTCL)).The company intends to start another Phase 2 study for ciforadenant as a first-line option in the treatment of metastatic renal cell cancer ((RCC)) in combination with pembrolizumab and lenvatinib.Initiating coverage of Corvus with a buy rating Cantor Fitzgerald analyst Li Watsek highlights the potential of the company’s pipeline. The Street-high price target of $10.00 per share indicates an upside of ~275.9% to the last close.“We believe that COVID-19 treatments will still be commercially relevant over many years beyond 2021, even with vaccination, just like seasonal flu,” Watsek wrote on the prospects of CPI-006.The analyst cites upcoming milestones of interim and topline data readouts for CPI-006 anticipated this year and early 2022,

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Corvus Pharmaceuticals initiated buy at Cantor with a Street-high target