H.C. Wainwright has reaffirmed its buy recommendation for Corbus Pharmaceuticals (NASDAQ: CRBP), assigning a 12-month price target of $35. The reiteration follows a 37% share price increase over the past six months and a 13% gain in the last week, with CRBP closing at $11.31 on Tuesday.
The analyst’s outlook aligns with clinical progress for CRB-701, an antibody-drug conjugate targeting Nectin-4. Data published this week in Cancer Research Communications—a collaboration between Corbus and CSPC—showed a confirmed objective response rate of 42.9% in second-line oropharyngeal squamous cell carcinoma at a 3.6 mg/kg dose, with a median duration of response of 6.3 months and progression-free survival of 5.6 months. In second-line cervical cancer, the response rate was 34.4%, with an 8.0-month median duration of response and 4.3 months of progression-free survival.
CRB-701 employs site-specific conjugation via mTGase at Q294 of each heavy chain, yielding a highly homogeneous ADC with an average drug-antibody ratio of 2.0 and purity exceeding 95%. The conjugation process preserved binding to Nectin-4 while showing no significant binding to Nectin-1, Nectin-2, or Nectin-3, according to the report.
Other analysts have adjusted their targets for CRBP. Oppenheimer lowered its price target to $52 from $54, while Mizuho reduced its target to $33 from $34. Despite the bullish ratings, InvestingPro noted that seven analysts have recently revised their earnings estimates downward for the upcoming period.
Corbus Pharmaceuticals’ Chief Medical Officer, Dr. Leonardo Viana Nicacio, highlighted the clinical relevance of the findings, emphasizing the potential of CRB-701 in addressing unmet needs in oncology. The company’s shares have gained momentum alongside the positive trial data, reflecting investor interest in the ADC’s development trajectory.
