Corbus Pharmaceuticals price target lowered to $50 from $75 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Corbus Pharmaceuticals (CRBP) to $50 from $75 and keeps a Buy rating on the shares. The firm believes “consistent updates” from Corbus on CRB-701 will continue to reengage investors throughout 2025. The stock’s current valuation continues to be reflective of an “unwarranted overreaction” to Novo Nordisk’s September announcement of monlunabant data, warranting misplaced program comparisons to CRB-913 for obesity, the analyst tells investors in a research note. H.C. Wainwright adjusted its spending assumptions to better reflect the development of CRB-701 and CRB-913, while also lowering its penetration assumptions for CRB-913 due to ongoing competition in the obesity field.