Corbus stock price target cut to $50 by H.C. Wainwright

On Wednesday, H.C. Wainwright analyst Andres Y. Maldonado revised the price target for Corbus Pharmaceuticals (NASDAQ: NASDAQ:CRBP) shares to $50, down from the previous $75, while sustaining a Buy rating on the stock. Currently trading at $6.88, the stock has fallen significantly from its 52-week high of $61.90. Maldonado’s statement highlighted the continued progress of Corbus with its CRB-701 updates, which he believes will keep investors engaged throughout the year. According to InvestingPro, the company shows several important indicators that subscribers can access, including 11+ additional ProTips that provide deeper insights into the company’s financial health.

The analyst noted that the stock has been under undue pressure due to comparisons with other obesity trials, which he views as creating a favorable opportunity for investors. With a market capitalization of $83.79 million and a strong current ratio of 12.94, the company maintains solid liquidity despite current market challenges. The updated data from Corbus on CRB-701 was presented at the ASCO GU 2025 event, where it reinforced the drug’s potential as a leading nectin-4 ADC for treating multiple solid tumors. For comprehensive analysis of Corbus’s financial position, InvestingPro subscribers can access detailed Research Reports covering all crucial aspects of the company’s performance.

Corbus’s Western study met the expectations established by earlier non-U.S. data, showing strong efficacy and a better safety profile than competitors such as Padcev and Tivdak. The study reported no dose-limiting toxicities, and most adverse events were mild to moderate. Notably, the drug showed lower ocular toxicity and less frequent peripheral neuropathy.

Key opinion leaders (KOLs) have emphasized CRB-701’s tolerability, particularly in comparison to Tivdak, where ocular toxicity is seen as a significant barrier to its adoption. Pharmacokinetic analysis indicated that CRB-701 had lower levels of circulating free MMAE compared to enfortumab vedotin, suggesting a lower risk of systemic toxicity.

In clinical trials, CRB-701 demonstrated a 57% response rate in treating head and neck squamous cell carcinoma (HNSCC), outperforming previous data for enfortumab vedotin. The drug also showed promising activity in cervical cancer and urothelial carcinoma. The FDA has recognized its potential by granting Fast Track designation for CRB-701 in treating relapsed or refractory metastatic cervical cancer.

Corbus is currently conducting a Phase 1/2 trial (NCT06265727) in the U.S. and Europe, aiming to optimize doses at 2.7 mg/kg and 3.6 mg/kg for HNSCC, cervical, and urothelial cancers. The company plans to expand the trial to include additional tumor types and establish a recommended Phase 2 dose (RP2D) under Project Optimus by Q4 2025. Maldonado reiterated his Buy rating while adjusting the price target. InvestingPro analysis suggests the stock is currently undervalued, with analyst consensus remaining strongly bullish at 1.3 (where 1 is Strong Buy). The company’s next earnings report is scheduled for March 18, 2025, which could provide additional catalysts for the stock.

In other recent news, Corbus Pharmaceuticals has been the focus of several analyst evaluations and clinical updates. William Blair initiated coverage on Corbus with an Outperform rating, highlighting the commercial potential of its lead program, CRB-701, in the antibody-drug conjugates (ADCs) market. The analyst emphasized CRB-701’s extended half-life and improved linker stability as competitive advantages. Meanwhile, H.C. Wainwright maintained its Buy rating and a $75 price target for Corbus, citing favorable risk-benefit data from the Western study of CRB-701 presented at the ASCO GU symposium. This study underscored the drug’s safety and efficacy, particularly in head and neck squamous cell carcinoma (HNSCC), even among heavily pretreated patients.

Furthermore, Mizuho (NYSE:MFG) Securities upheld its Outperform rating with a $42 target, noting the potential positive implications of recent disappointing data from a competing company. Corbus is expected to release additional U.S. phase 1/2 data for CRB-701 in early 2025, with analysts anticipating it may outperform Pfizer (NYSE:PFE)’s Padcev. The company’s ongoing clinical trials and data presentations, including those at the upcoming ASCO GU 2025 symposium, continue to draw significant attention from the investment community.

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