Fly News Breaks for September 20, 2018
CRBP
Sep 20, 2018 | 13:19 EDT
JMP Securities analyst Liisa Bayko said she is pleased with Corbus' announcement that it has licensed the exclusive worldwide rights to develop, manufacture and market drug candidates from more than 600 compounds targeting the endocannabinoid system from Jenrin. While she thinks the deal "makes a lot of strategic sense," Bayko is not yet incorporating the drug candidates into her valuation given the early stage of these assets. Bayko, who said the new assets represent potential upside, keeps an Outperform rating and $27 price target on Corbus shares.
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