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Corbus Pharmaceuticals price target lowered to $28 from $40 at B. Riley

B. Riley analyst Kalpit Patel lowered the firm’s price target on Corbus Pharmaceuticals (CRBP) to $28 from $40 and keeps a Buy rating on the shares. The firm cites higher discount rates and muted investor interest in early-stage assets for the price target decrease. B. Riley remains confident in the investment case for CRB-701, the analyst tells investors in a research note.

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