UPDATE: Raymond James Starts Corbus Pharmaceuticals (CRBP) at Outperform
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(Updated - January 19, 2018 5:46 AM EST)
(updated to add analyst comment)
Raymond James initiates coverage on Corbus Pharmaceuticals (NASDAQ: CRBP) with a Outperform rating and a price target of $24.00.
ANalyst Laura Chico comments "In the three years since its IPO, Corbus Pharmaceuticals has diligently advanced its wholly-owned, lead asset lenabasum to pivotal studies in systemic sclerosis (SSc), with efforts also progressing in dermatomyositis (DM) and cystic fibrosis (CF). To date, we think data supports advancement, particularly when we consider the unmet need left by current therapies. Overall, recent non-dilutive funding from CFF and NIH provides important validation for Corbus."
Shares of Corbus Pharmaceuticals closed at $7.95 yesterday.
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