Corvus Pharmaceuticals price target raised to $12 from $10 at Ladenburg

Ladenburg analyst Aydin Huseynov raised the firm’s price target on Corvus Pharmaceuticals to $12 from $10 and keeps a Buy rating on the shares after the company anounced the publication of a preprint on bioRxiv.org with preclinical data for soquelitinib. From a single-agent activity perspective, soquelitinib increased the infiltration of CD8+ T cells, and due to selective inhibition of ITK, soquelinitib affected T cell differentiation which led to Th1 skewing, the analyst tells investors in a research note. The firm now feels more optimistic about the current dosing of soquelitinib and the Phase 3 trial design.