Goldman Sachs Bullish on Corvus Pharmaceuticals Stock Outlook

Written by Emily J. Thompson, Senior Investment Analyst

Source: CNBC

Updated: 1 day ago

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CRVS+11.3%

GS+2.88%

Should l Buy CRVS?

Source: CNBC

Goldman Sachs Rating Boost: Goldman Sachs initiates coverage of Corvus Pharmaceuticals with a buy rating and sets a $40 price target, implying a 166% upside from Thursday's close, reflecting strong market confidence in the company's new drug potential.
Stock Price Surge: Following Goldman Sachs' report, Corvus Pharmaceuticals' stock rose approximately 9%, indicating investor enthusiasm for its new oral medication soquelitinib, which is expected to address a significant market need.
Strong Market Demand: The global market for moderate-to-severe atopic dermatitis treatments is projected to exceed $24 billion by 2035, highlighting Corvus Pharmaceuticals' strategic positioning in this rapidly growing sector, especially as demand for non-steroidal therapies increases.
Clinical Trial Success: Soquelitinib demonstrated positive effects in 75% of participants during early-stage clinical trials, showcasing its significant efficacy in a competitive dermatological treatment landscape, further solidifying Goldman Sachs' bullish outlook on the stock.

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Analyst Views on CRVS

Wall Street analysts forecast CRVS stock price to fall

3 Analyst Rating

3 Buy

0 Hold

0 Sell

Strong Buy

Current: 15.040

Low

11.00

Averages

13.33

High

16.00

Current: 15.040

Low

11.00

Averages

13.33

High

16.00

Goldman Sachs

Buy

initiated

$40

2026-04-17

New

Reason

Goldman Sachs

Price Target

$40

AI Analysis

2026-04-17

New

initiated

Buy

Reason

Goldman Sachs initiated coverage of Corvus Pharmaceuticals with a Buy rating and $40 price target. The shares trade at an attractive entry point given the company's "leading emerging" oral option in the "large" post-Dupixent atopic dermatitis market, the analyst tells investors in a research note. The firm believes Corvus' valuation does not reflect the potential of its "differentiated, emerging" oral option for atopic dermatitis.

Oppenheimer

Outperform

maintain

$32 -> $33

2026-03-13

Reason

Oppenheimer

Price Target

$32 -> $33

2026-03-13

maintain

Outperform

Reason

Oppenheimer raised the firm's price target on Corvus Pharmaceuticals to $33 from $32 and keeps an Outperform rating on the shares after the company reported full year 2025 results and provided an update across the range of work for its lead clinical-stage ITK inhibitor soquelinitinib. Following very strong results reported in January for SQL in Cohort 4 of Corvus' AD trial, management is focused on aggressively pushing the candidate forward in AD and other indications. Importantly, following a financing completed in the same month management now has the resources to do so, Oppenheimer adds.

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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.

Corvus' Oral Therapy Potential Underestimated by Analysts

1 day agostocktwits

Significant Clinical Results: Corvus' Soquelitinib demonstrated impressive early trial results for atopic dermatitis, with 75% of patients achieving at least a 75% improvement and 25% experiencing over 90% improvement, indicating its potential as a leading oral therapy in the market.
Stock Price Surge: Following a bullish analyst call, shares of Corvus Pharmaceuticals (CRVS) jumped nearly 12% on Friday, breaking above their 50-day moving average for the first time since March 13, reflecting increased market confidence in the potential of its oral drug.
Goldman Sachs Upgrade: Goldman Sachs initiated coverage of Corvus with a 'Buy' rating and a price target of $40, representing a 138% upside from current levels, highlighting the company's competitive edge in the post-Dupixent atopic dermatitis market.
Investor Sentiment Shift: Retail sentiment for CRVS on Stocktwits shifted from 'bearish' to 'bullish' with high message volumes, as some users anticipate the stock could climb to $100 over the next 12-18 months, indicating optimism about Corvus' future prospects.

Goldman Sachs Initiates Buy on Corvus with $40 Target

1 day agoseekingalpha

Goldman Coverage Launch: Goldman Sachs has initiated coverage on Corvus Pharmaceuticals (CRVS) with a Buy rating and a $40 price target, with analyst Paul Choi highlighting the pipeline potential of its lead candidate, soquelitinib, which is expected to drive stock price appreciation.
Strong Stock Performance: CRVS shares have surged over 400% in the past 12 months, reflecting strong market confidence in the company's future, particularly as the current valuation does not fully capture soquelitinib's potential in treating atopic dermatitis and other autoimmune conditions.
Clinical Trial Catalysts: The analyst noted that soquelitinib's development for atopic dermatitis is significant, with multiple clinical trial catalysts scheduled over the next 12-18 months, which could further propel the stock price upward.
Long-Term Growth Potential: Although soquelitinib is still in early development, the analyst envisions CRVS gradually maturing into a large-cap biotech company, as market demand for next-gen therapies continues to expand.