Corbus Pharmaceuticals price target lowered to $58 from $65 at RBC Capital

RBC Capital lowered the firm’s price target on Corbus Pharmaceuticals (CRBP) to $58 from $65 but keeps an Outperform rating on the shares after its Q1 earnings miss. Bridging data from the company’s Western cohorts with ‘701 and prior clinical data from partner CSPC in China suggests the Nectin-4 ADC could have best-in-class properties, and RBC believes that more clinical data later this year could better de-risk what it sees as a $1B out-year U.S. sales opportunity, the analyst tells investors in a research note.