Oppenheimer Reiterates Outperform Rating on Corbus Pharmaceuticals (CRBP)

Oppenheimer analyst Jeff Jones reiterated an Outperform rating and $60.00 price target on Corbus Pharmaceuticals (NASDAQ: CRBP).

The analyst commented: "Thursday CRBP announced 3Q results and provided a business update. This follows a quarter in which the stock was hit following Novo Nordisk news on monlunabant, off ~65% from mid-September. However, CRBP remains up 213% YTD vs. XBI 15%, mainly on the strength of their ADC program (CRB-701).

We view '701 as a potentially best-in-class nectin-4 targeting ADC, with a data update anticipated 1Q25. Recent data from CRBP on '913 at Obesity Week (OPCO Note) continues to support a potentially differentiated safety profile for the company's CB1R targeting program, with the first patient to be dosed early next year.

CRBP maintains a robust balance sheet, reporting 3Q ending cash of $159M, anticipated to support operations into 2H27. We update our model for actuals, reiterate Outperform."

For an analyst ratings summary and ratings history on Corbus Pharmaceuticals click here. For more ratings news on Corbus Pharmaceuticals click here.

Shares of Corbus Pharmaceuticals closed at $18.91 yesterday.

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