Corbus Pharmaceuticals (CRBP) PT Raised to $52 at Jefferies

Jefferies analyst Maury Raycroft raised the price target on Corbus Pharmaceuticals (NASDAQ: CRBP) to $52.00 (from $46.00) while maintaining a Buy rating.

The analyst comments "We see two valuation drivers for CRBP currently: 1) CRB-701 Nectin-4 ADC & 2) obesity CB1 asset CRB-913; both could move the stock over the next 12mos. For '701, add'l dose escalation data mid'24 (we est @ASCO) could outline efficacy/safety at doses >3.6mg/kg, and we est could move the stock +30%/-30%. For '913, though still early-stage, we would expect readthrough from NVO's ph.II CB1 data potentially later this yr. Cash $127M provides runway through 1Q27."

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