Mizuho reiterates Outperform rating on Corbus stock ahead of ESMO data

Investing.com - Mizuho maintained its Outperform rating and $32.00 price target on Corbus Pharmaceuticals (NASDAQ:CRBP), currently valued at $190.45 million in market cap, ahead of upcoming clinical data expected at the ESMO meeting later this week.

The research firm expressed particular interest in the Phase 1/2 data for CRB-701 in head and neck cancer, an indication not currently included in its financial models for the drug candidate, suggesting potential upside to estimates.

Mizuho plans to compare CRB-701’s efficacy and safety data against competing candidates, specifically highlighting Merus’ (NASDAQ:MRUS) petosemtamab as a key comparison point.

Corbus shares have gained significantly in anticipation of the data presentation, rising 61% over the past month compared to a 12% increase in the XBI biotech index.

The research firm maintained its positive outlook on Corbus, suggesting a favorable ESMO data presentation could provide another boost to the stock price. InvestingPro subscribers can access 10+ additional technical indicators and financial metrics to better evaluate the stock’s potential ahead of this catalyst.

In other recent news, Corbus Pharmaceuticals has announced that it will present updated clinical data from its Phase 1/2 study of CRB-701 at the European Society for Medical Oncology (ESMO) Congress in October 2025. The presentation will highlight results from ongoing trials evaluating CRB-701, a Nectin-4-targeting antibody-drug conjugate, in patients with various solid tumors. This development follows the FDA Fast Track Designation granted to Corbus Pharmaceuticals for CRB-701, specifically for treating recurrent or metastatic head and neck squamous cell carcinoma in patients who have undergone previous treatments.

Mizuho has reiterated an Outperform rating on Corbus Pharmaceuticals, maintaining a $32.00 price target following the Fast Track announcement. Meanwhile, Oppenheimer has adjusted its price target for the company from $60.00 to $53.00, although it continues to rate the stock as Outperform. Additionally, the acceptance of an abstract detailing the CRB-701 clinical study for presentation at the ESMO Congress has been announced. These updates reflect significant ongoing developments for Corbus Pharmaceuticals.

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