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CRBP

Corbus Pharmaceuticals

$7.48 /

+0.61 (+8.88%)

09:47
03/19/19
03/19
09:47
03/19/19
09:47

Corbus jumps over 10% after Oppenheimer starts with $28 price target

Shares of Corbus Pharmaceuticals are moving higher after Oppenheimer analyst Leland Gershell initiated coverage of the name with an Outperform rating and $28 price target. The stock in early trading is up 10%, or 69c, to $7.56. The next 12-24 months could be transformational for Corbus, as ongoing late-stage trials of lead oral cannabinoid receptor agonist lenabasum in three "rare, poorly met disorders" of chronic inflammation/fibrosis complete their enrollment and deliver top-line data, Gershell told investors last night in a research note. Results from the 350 patient Resolve-1 trial, expected in mid-2020, could enable lenabasum to address a ~920M market opportunity, contends the analyst. Further, lenabasum has demonstrated positive prior clinical data in dermatomyositis and cystic fibrosis as well, each of which offers $500M to $1B in sales potential, according to Gershell.

  • 19

    Mar

CRBP Corbus Pharmaceuticals
$7.48 /

+0.61 (+8.88%)

03/18/19 Oppenheimer
Corbus Pharmaceuticals initiated with an Outperform at Oppenheimer
01/11/19 Cantor Fitzgerald
Corbus Pharmaceuticals price target raised to $38 from $36 at Cantor Fitzgerald
12/26/18
Fly Intel: Top five analyst actions
12/26/18 H.C. Wainwright
Corbus Pharmaceuticals initiated with a Buy at H.C. Wainwright

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