Mizuho starts coverage on Corbus Pharma with 'outperform'

Corbus Pharmaceuticals Holdings

27/08/2024 13:47

** Brokerage Mizuho initiates drug developer Corbus
Pharmaceuticals Holdings  CRBP.O  with "outperform" rating, PT
at $74
    ** The price target represents a 24.9% upside to the stock's
last close
    ** Mizuho says it is quite bullish on CRBP's experimental
drug CRB-701 for the treatment of cervical cancer and a type of
bladder cancer
    ** Says near-term investor gaze appears exclusively focused
on co's obesity drug CRB-913, which is the same class as Novo
Nordisk's  NOVOb.CO  drug monlunabant 
    ** Brokerage says mid-stage data from monlunabant has the
potential to set "a completely new narrative and direction for
the class"
        ** Six out of six brokerages rate the stock "buy" or
higher - LSEG data
    ** Up to last close, stock up more than nine-fold YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))