Roth Capital analyst Tony Butler initiated coverage of Corvus Pharmaceuticals with a Buy rating and $6 price target. The analyst projects peak risk-adjusted revenues of $482M in non-small-cell lung carcinoma and renal cell carcinoma from Corvus' lead program ciforadenant. Further, expected clinical updates from the CPI-006 and CPI-818 programs during 2019 could result in "significant upside" to estimates, Butler tells investors in a research note. He believes the company has an expanding pipeline with the potential for exploring novel combinations, which he says is where the "clinical paradigm is heading."