H.C. Wainwright lowered the firm’s price target on Corbus Pharmaceuticals (CRBP) to $40 from $50 and keeps a Buy rating on the shares. The firm lowered its valuation multiples and increased the stock’s discount rates to better align with current investor sentiment, elevated cost of capital, and reduced appetite for early-stage clinical risk. IT still expects CRB-701’s solid tumor footprint to grow driven by a “best-in-class profile.”
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Read More on CRBP:
- Corbus Pharmaceuticals Advances Clinical Pipeline Amid Q1 Loss
- Corbus Pharmaceuticals Receives FDA Fast Track Designation
- Corbus Pharmaceuticals reports Q1 EPS ($1.39), consensus ($1.07)
- Corbus Pharmaceuticals management to meet with Piper Sandler
- Corbus announces first patient dosed in Phase 1 CRB-913 study
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