Corvus Pharmaceuticals upgraded to Outperform from Neutral at Mizuho

Mizuho upgraded Corvus Pharmaceuticals (CRVS) to Outperform from Neutral with a price target of $12, up from $3.50. The firm significantly raised its estimates for the company’s lead asset soquelitinib in lead indication peripheral T-cell lymphoma, where it is now meaningfully above consensus. The analyst sees “vast potential” in immune diseases for Corvus and tells investors to buy the stock ahead of the upcoming Phase 1 soquelitinib data sets.