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Investing.com - Barclays initiated coverage on Corvus Pharmaceuticals (NASDAQ:CRVS) with an Overweight rating and a price target of $16.00 on Monday. The target represents significant upside potential for the $516 million market cap company, which has seen its shares surge over 130% in the past six months. According to InvestingPro data, analyst targets for CRVS range from $11 to $24.
The research firm cited a positive risk-reward profile for the company’s ITK inhibitor soqueltinib (CPI-818) ahead of atopic dermatitis (AD) data expected this quarter.
Barclays believes soqueltinib has a differentiated mechanism of action with early clinical data suggesting clinical benefit in atopic dermatitis.
The firm noted that soqueltinib’s mechanism of action indicates potential applications across multiple indications beyond atopic dermatitis.
At the current valuation, Barclays suggests that further de-risking in atopic dermatitis alone represents meaningful potential upside for Corvus Pharmaceuticals shares.
In other recent news, Corvus Pharmaceuticals reported its second-quarter 2025 earnings, revealing an earnings per share (EPS) of -$0.10, surpassing analysts’ expectations of -$0.13. This unexpected EPS beat marks a 23.08% surprise, reflecting the company’s ongoing efforts in developing treatments for autoimmune and inflammatory diseases. Additionally, Corvus Pharmaceuticals has announced the appointment of David Moore as a Class III director on its board. Moore, who is also the Executive Vice President of US Operations at Novo Nordisk and President at Novo Nordisk Inc., will serve until the company’s 2028 annual meeting of stockholders. His extensive 27-year experience in the pharmaceutical and biotech sectors is expected to contribute significantly to the board’s strategic initiatives. Moore has also been appointed to the board’s Compensation Committee and Nominating and Corporate Governance Committee. These developments underscore Corvus Pharmaceuticals’ strategic focus and leadership enhancement.
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