Wedbush last night initiated coverage of Corbus Pharmaceuticals with an Outperform rating and $85 price target. Corbus is an early clinical stage biotech developing therapies for cancer and obesity, the analyst tells investors in a research note. The firm believes the company’s lead program CRB-701 has “best-in-class potential” with more data expected in Q1 of 2025. Its next asset, CRB-913, a peripherally restricted cannabinoid receptor inverse agonist, leverages a validated weight-loss mechanism, adds Wedbush. As Corbus advances several programs with well-validated mechanisms and broad market opportunity, the shares “appear highly compelling,” the firm contends.
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