William Blair analyst Andy Hsieh has maintained their bullish stance on CRBP stock, giving a Buy rating on October 13.
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Andy Hsieh has given his Buy rating due to a combination of factors, primarily focusing on the potential of Corbus Pharmaceuticals’ upcoming data release. The company is set to present findings from its Phase I/II trial of CRB-701, an antibody-drug conjugate targeting nectin-4 in solid tumors, at the European Society for Medical Oncology annual meeting. This event is anticipated to provide significant insights into the drug’s efficacy and safety, which could positively influence the company’s stock value.
Furthermore, the management’s proactive engagement with investors, including discussions led by CEO Yuval Cohen and CFO Sean Moran, has highlighted the strategic importance of this data release. The company is also organizing a Key Opinion Leader event to further elucidate the trial outcomes. These efforts, coupled with the promising nature of the CRB-701 trial, suggest a favorable risk/reward scenario, justifying the Buy rating.
In another report released on October 13, Mizuho Securities also reiterated a Buy rating on the stock with a $32.00 price target.