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On Wednesday, Mizuho (NYSE:MFG) Securities adjusted its price target for Corbus Pharmaceuticals (NASDAQ:CRBP) stock, lowering it to $32 from the previous $42, while maintaining an Outperform rating. The adjustment follows Corbus Pharmaceuticals’ first-quarter results, which showed steady progress in its product pipeline, according to the firm. The stock, currently trading at $7.57, has shown significant volatility with a 7.5% gain in the past week despite a steep 83% decline over the past year. InvestingPro analysis indicates the stock is currently undervalued, with 12 additional exclusive insights available to subscribers.
The financial institution’s outlook remains positive, citing no significant changes to Corbus’s three clinical-stage assets. These include CRB-701, a Nectin-4 antibody-drug conjugate for solid tumors; CRB-913, a CB1 receptor inverse agonist for obesity; and CRB-601, a TGF-β blocker also targeting solid tumors. The company is expected to release key data sets for each of these assets in the fourth quarter of 2025. With a current market capitalization of $92.6 million and a healthy current ratio of 11.82, the company maintains strong liquidity to support its development programs.
Mizuho also noted that Corbus’s cash runway has been extended to the second quarter of 2027, which marks a slight improvement from the previously projected third quarter of 2027. This update comes as the company’s operational expenses are anticipated to be higher than initially expected.
Despite the reduction in the price target, Mizuho’s analyst believes the stock presents a significant upside potential based on the current risk/reward scenario. The firm’s stance remains optimistic about Corbus’s future performance in the market, as indicated by the continuation of the Outperform rating.
In other recent news, Corbus Pharmaceuticals has announced several key developments. The company reported outcomes from its annual stockholders’ meeting, where Rachelle Jacques was appointed as the new Chair of the Board, succeeding Alan Holmer. Additionally, shareholders ratified the appointment of EisnerAmper LLP as the independent auditor for 2025 and approved executive compensation policies. In the realm of clinical trials, Corbus initiated a Phase 1 trial for its obesity treatment, CRB-913, which is set to conclude in Q3 2025. This drug is designed to minimize central nervous system penetration, potentially offering a safer profile.
Meanwhile, H.C. Wainwright maintained a Buy rating on Corbus but lowered the price target to $40 from $50, reflecting cautious market sentiment. Analyst Andres Y. Maldonado noted the promise of Corbus’s CRB-701, which has shown significant efficacy in treating various cancers. The company also announced the appointment of Ian Hodgson as the new Chief Operating Officer, effective recently. Hodgson, who has extensive experience in drug development, was promoted from his previous role as Head of Operations. Furthermore, Corbus will reduce its Board size following Dr. Peter Salzmann’s decision not to seek re-election at the upcoming annual meeting.
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