Corbus Pharmaceuticals price target lowered to $56 from $60 at Oppenheimer

Oppenheimer lowered the firm’s price target on Corbus Pharmaceuticals (CRBP) to $56 from $60 and keeps an Outperform rating on the shares following quarterly results and business update. Given the relatively recent Q4 update and data for CRB-701 data presented at ASCO-GU in February, there is no new clinical data to highlight. Although Oppenheimer initially anticipated an update on ‘701 at ASCO, based on the company’s mid-year guidance, it now appears that another major oncology conference later this year is the more likely target.