Jefferies upgraded Corbus Pharmaceuticals to Buy from Hold with a price target of $46, up from $4. The analyst says CRB-701’s first clinical data outlined a differentiated efficacy and safety profile, which gives the firm conviction the drug could capture market share in addiotnal tumors such as cervical. Jefferies expects two more dose-escalation data updates this year to be catalysts, which will tell if ‘CRN-701 could dose higher and improve efficacy. Additionally, Corbus pipeline canadine CRB-913 for obesity could attract strategic interest, says the analyst.
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