William Blair analyst Andy Hsieh has maintained their bullish stance on CRBP stock, giving a Buy rating today.
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Andy Hsieh has given his Buy rating due to a combination of factors surrounding Corbus Pharmaceuticals’ development of CRB-913. The initial findings from the single-ascending dose (SAD) and multiple-ascending dose (MAD) studies, despite being conducted primarily with healthy volunteers, show promising results with a 2.9% placebo-adjusted weight loss at the 150 mg dosage. This is considered a positive starting point for the ongoing Phase Ib CANYON-1 study, which will further explore the efficacy of lower doses.
Moreover, Andy Hsieh is encouraged by the safety profile of CRB-913, particularly in terms of neuropsychiatric side effects. The use of validated questionnaires reported no significant negative findings, with only a few mild cases of anxiety and irritability that were transient and resolved without intervention. This safety aspect, along with the absence of serious non-psychiatric adverse events, positions CRB-913 favorably against competitors. The upcoming results from the Phase Ib study are anticipated to further address investor concerns and potentially enhance the stock’s appeal.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $53.00 price target.