Corbus Pharmaceuticals price target raised to $82 from $77 at RBC Capital

RBC Capital raised the firm’s price target on Corbus Pharmaceuticals (CRBP) to $82 from $77 and keeps an Outperform rating on the shares. There is growing enthusiasm around the company’s obesity asset ‘913, with phase 2 data from Novo Nordisk’s (NVO) INV-202 expected in the second half of this year and ‘913 entering phase 1 in Q1 of 2025, the analyst tells investors in a research note. RBC adds that tits deep dive analysis shows considerable structural and preclinical similarities between ‘913 and ‘202, with potential for ‘913 to be safer but likely not meaningfully less efficacious.