In a report released today, Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Corbus Pharmaceuticals, with a price target of $40.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors surrounding Corbus Pharmaceuticals’ promising developments with CRB-913. The Phase 1a readout of CRB-913, targeting chronic obesity management, showed a favorable safety profile with no serious adverse effects, particularly lacking the gastrointestinal side effects common in similar treatments. This differentiates CRB-913 from previous CB-1 targeting drugs, which had significant adverse effects, and suggests a primary effect of weight loss rather than secondary effects from side effects.
Furthermore, CRB-913’s potential to address the limitations of current obesity treatments, such as GLP-1 therapies, by offering a different mechanism of action, positions it well in a growing market. The drug’s clean tolerability and efficacy profile, coupled with the company’s strategic diversification, provide a strong foundation for long-term growth. The upcoming Phase 1b study is expected to further validate these findings, reinforcing the Buy rating and the $40 price target set by Maldonado.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $53.00 price target.