Corbus Pharmaceuticals (CRBP) PT Raised to $82 at RBC Capital

RBC Capital analyst Brian Abrahams raised the price target on Corbus Pharmaceuticals (NASDAQ: CRBP) to $82.00 (from $77.00) while maintaining a Outperform rating.

The analyst comments "We think there is growing enthusiasm around CRBP's obesity asset '913, with ph.II data from NVO's INV-202 expected in 2H24 and '913 entering ph.I 1Q25. Our deep dive analysis shows considerable structural and preclinical similarities between '913 and '202, with potential for '913 to be safer but likely not meaningfully less efficacious. As such, we increasingly believe the upcoming ph.II '202 readout from NVO, if it shows 16wk weight loss in the same ballpark as the GLP-1s, would have favorable de-risking readthroughs for '913 (even if there are some AE signals) and catalyze meaningful upside for CRBP. With our incrementally increased confidence in the program we are increasing our tgt to $82 from $77; we would be buyers of CRBP."

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