Corvus Pharmaceuticals Inc (CRVS) saw its stock price decline by 13.82% as it crossed below the 5-day SMA, reflecting investor reactions to recent developments.
The company has priced an upsized public offering of 7.9 million shares at $22.15 each, raising approximately $175 million. This offering is aimed at funding clinical trials for its drug candidates, including Phase 3 trials for T-cell lymphoma and Phase 2 trials for atopic dermatitis. The strong market demand for its clinical-stage biopharmaceutical products indicates confidence in the company's growth prospects, despite the recent stock decline.
This capital raise is expected to enhance liquidity and support ongoing research and development efforts, which are crucial for Corvus's future in the competitive biopharmaceutical landscape.
Wall Street analysts forecast CRVS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRVS is 13.33 USD with a low forecast of 11.00 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
Wall Street analysts forecast CRVS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRVS is 13.33 USD with a low forecast of 11.00 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 23.010
Low
11.00
Averages
13.33
High
16.00
Current: 23.010
Low
11.00
Averages
13.33
High
16.00
Jefferies
Roger Song
Buy
upgrade
$13 -> $42
2026-01-22
Reason
Jefferies
Roger Song
Price Target
$13 -> $42
AI Analysis
2026-01-22
upgrade
Buy
Reason
Jefferies analyst Roger Song raised the firm's price target on Corvus Pharmaceuticals to $42 from $13 and keeps a Buy rating on the shares. The firm views the Phase 1 data for soquelitinib in atopic dermatitis as "strong and supportive" of a Phase 2 trial to start Q1. Soquelitinib is building a case to be a "first-in-class, convenient, safe and efficacious oral ITK inhibitor" for atopic dermatitis with potential expansion into other indications, the analyst tells investors in a research note. Multiple key opinion leaders Jefferies spoke to were "encouraged" by the drug's profile and predict it has a meaningful role in future atopic dermatitis landscape.
Oppenheimer
Oppenheimer
Outperform
maintain
$15 -> $32
2026-01-21
Reason
Oppenheimer
Oppenheimer
Price Target
$15 -> $32
2026-01-21
maintain
Outperform
Reason
Oppenheimer raised the firm's price target on Corvus Pharmaceuticals to $32 from $15 and keeps an Outperform rating on the shares after the company announced additional atopic dermatitis data that continues to impress across all reported efficacy endpoints. These results come from Cohort 4, patients dosed with 200mg BID soquelitinib or placebo for 8 weeks, twice as long as prior cohorts. Further, the results suggest that longer dosing continues to improve efficacy across both naive and previously treated patients, Oppenheimer adds. Biomarker results were consistent. However, itch data was not included in this update.
Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for CRVS
Unlock Now
H.C. Wainwright
Sean Lee
Buy
maintain
$11 -> $27
2026-01-20
Reason
H.C. Wainwright
Sean Lee
Price Target
$11 -> $27
2026-01-20
maintain
Buy
Reason
H.C. Wainwright analyst Sean Lee raised the firm's price target on Corvus Pharmaceuticals to $27 from $11 and keeps a Buy rating on the shares after the company announced "game-changing" topline results from Cohort 4 of the Phase 1 study of soquelitinib for the treatment of refractory atopic dermatitis. Based on the findings, the firm is increasing its projected market penetration to 30% from 10%, the analyst tells investors.
Mizuho
Outperform
maintain
$13 -> $20
2026-01-20
Reason
Mizuho
Price Target
$13 -> $20
2026-01-20
maintain
Outperform
Reason
Mizuho raised the firm's price target on Corvus Pharmaceuticals to $20 from $13 and keeps an Outperform rating on the shares. The company reported positive Phase 1 data for soquelitinib in atopic dermatitis, the analyst tells investors in a research note. The new the new data were "outstanding" and support a view of soquelitinib being a potential best-in-disease agent in atopic dermatitis, contends Mizuho. Corvus remains a top Mizuho pick for January.
About CRVS
Corvus Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development of ITK inhibition as a new approach to immunotherapy for a range of cancer and immune diseases. Its lead product candidate is soquelitinib, is designed to bind specifically to a protein, interleukin 2 inducible T cell kinase (ITK), involved in T cell activation, T cell receptor signaling and T cell differentiation and function. ITK, an enzyme that functions in T cell signaling and differentiation, is expressed predominantly in T cells. Its second product candidate, ciforadenant, is an oral, small molecule antagonist of the A2A receptor for adenosine designed to disable a tumor’s ability to subvert attack by the immune system by blocking the binding of immunosuppressive adenosine in the tumor microenvironment to the A2A receptor. The Company’s third product candidate is mupadolimab, a humanized monoclonal antibody that is designed to react with a specific site on CD73.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
