Mizuho Reiterates Outperform Rating on Corbus Pharmaceuticals (CRBP) Ahead of Event

Mizuho analyst Graig Suvannavejh reiterated an Outperform rating and $32.00 price target on Corbus Pharmaceuticals (NASDAQ: CRBP).

The analyst comments "We recently met with management for (1) a general company update, and (2) a more in-depth discussion of highly anticipated P1/2 data for CRB-701 ('701), which are expected at the annual ESMO meeting that starts later this week. With investor interest high in the '701 update, within, we provide highlights and our data expectations, where our particular focus will be on the '701 data in head and neck cancer (an indication we currently don't model for '701, thus offering upside potential to our estimates). Of note, we'll be most interested in how the '701 efficacy and safety/tolerability data compare against those for other high-profile, competing candidates (most especially, Merus' (MRUS, NC) petosemtamab/peto), and bigger picture on the name, with CRBP shares running into the data event (+61% in the past month alone, vs. +12% XBI), and a positive ESMO event providing another potential stock boost, we stay OP-rated on CRBP."

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 $15.54 yesterday.

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