Corbus stock price target cut to $40 at H.C. Wainwright

On Wednesday, H.C. Wainwright maintained a Buy rating on Corbus Pharmaceuticals (NASDAQ:CRBP) but reduced the price target to $40 from $50. The firm’s analyst Andres Y. Maldonado cited a positive outlook for the company’s pipeline, which he believes is undervalued given its potential in significant oncology and obesity markets. According to InvestingPro data, the stock has seen significant pressure, falling over 84% in the past year, with analyst targets ranging from $31 to $73. The company’s current market capitalization stands at approximately $76 million, suggesting potential upside according to InvestingPro’s Fair Value analysis.

Maldonado highlighted the promise of Corbus’s CRB-701, particularly after the presentation of updated Phase 1 data at the ASCO GU 2025 conference. The data reinforced CRB-701’s status as a best-in-class Nectin-4-directed ADC with meaningful activity across several solid tumor types and a favorable safety profile. InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 11.82 and holds more cash than debt on its balance sheet, providing financial flexibility to advance its clinical programs. Discover 10+ additional exclusive insights about CRBP with an InvestingPro subscription. Notably, the Western cohort’s efficacy was consistent with previous results outside the United States, with fewer adverse events reported, including reduced ocular toxicity and infrequent peripheral neuropathy, without dose-limiting toxicities.

CRB-701 demonstrated a 57% response rate in head and neck squamous cell carcinoma (HNSCC), surpassing historical benchmarks for EV, and showed promising activity in cervical and urothelial cancer. The FDA has awarded CRB-701 Fast Track designation for relapsed/refractory metastatic cervical cancer. The ongoing Phase 1/2 trial (NCT06265727) is focused on dose optimization across various tumor types, with the recommended Phase 2 dose (RP2D) determination under Project Optimus expected by Q4 2025.

Despite the positive clinical developments, Maldonado noted that the adjustment of the price target to $40 reflects a more cautious market sentiment towards small to mid-cap biotech stocks. The valuation framework now accounts for a risk-averse market environment, incorporating lower P/E multiples and higher discount rates to align with current investor sentiment, an elevated cost of capital, and a reduced appetite for early-stage clinical risk. With earnings scheduled for May 9th and a strong analyst consensus recommendation of 1.3 (where 1 is Strong Buy), investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed Research Report, available for over 1,400 US stocks.

In other recent news, Corbus Pharmaceuticals has initiated a Phase 1 clinical trial for its obesity treatment, CRB-913. This trial, which involves single and multiple ascending doses, aims to evaluate the safety and efficacy of the drug, which is designed to be more peripherally restricted than its predecessors. Additionally, Corbus has announced a change in its board structure, with Dr. Peter Salzmann deciding not to seek re-election, reducing the board size from eight to seven members post the 2025 annual meeting. In executive news, Ian Hodgson has been appointed as the new Chief Operating Officer, bringing over 25 years of experience in drug development and operations to the role. Analyst firm H.C. Wainwright has revised its price target for Corbus shares to $50, down from $75, while maintaining a Buy rating, indicating continued confidence in the company’s progress with its CRB-701 updates. Meanwhile, William Blair has initiated coverage of Corbus with an Outperform rating, highlighting the commercial potential of the company’s lead program, CRB-701, in the antibody-drug conjugates market. These developments reflect ongoing strategic and operational shifts within Corbus Pharmaceuticals as it advances its portfolio in the competitive biopharmaceutical landscape.

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