Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Corbus Pharmaceuticals and keeping the price target at $40.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors related to Corbus Pharmaceuticals’ promising pipeline and strategic advancements. The company’s lead program, CRB-701, is a significant value driver with its upcoming Phase 1/2 dose expansion data presentation at ESMO. This program is distinguished by its site-specific conjugation and improved safety profile compared to existing agents, showing lower rates of peripheral neuropathy and skin toxicity. The emerging efficacy signal in head and neck squamous cell carcinoma and the strategic initiation of a PD-1 combo arm with pembrolizumab further bolster its potential.
Additionally, CRB-913 is emerging as a differentiated asset in the metabolic disease space. It is designed to avoid the neuropsychiatric adverse events that affected previous CB1 inverse agonists like rimonabant. The ongoing Phase 1 study has shown a favorable safety profile, which is crucial given past setbacks in this class. The anticipated data from this study could enhance partnership opportunities, particularly in the areas of NASH and obesity. These factors collectively support the Buy rating and the $40 price target for Corbus Pharmaceuticals.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $53.00 price target.