Oliver McCammon, an analyst from LifeSci Capital, maintained the Buy rating on Corbus Pharmaceuticals. The associated price target remains the same with $53.00.
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Oliver McCammon has given his Buy rating due to a combination of factors that highlight the potential of Corbus Pharmaceuticals’ CRB-913 asset. The recent updates from the Phase 1 SAD/MAD study indicate that CRB-913, a CB1 receptor inverse agonist, is being developed for obesity treatment and has shown promising safety and tolerability profiles. This is particularly significant given the historical concerns with neuropsychiatric adverse events associated with similar drugs.
The preclinical data suggest that CRB-913 has significantly lower brain penetration compared to previous CB1R inverse agonists, which could mitigate the risk of neuropsychiatric side effects without compromising efficacy. The absence of neuropsychiatric adverse events in the Phase 1a trial, along with negative results on various neuropsychiatric assessments, supports the potential for CRB-913 to offer a safe and effective treatment option. These findings, combined with the initiation of a 12-week Phase 1b trial, contribute to McCammon’s optimistic outlook on Corbus Pharmaceuticals’ stock.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $53.00 price target.