Cantor analyst Elemer Piros reiterated a Buy rating on shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) with a price target of $17, after the drug maker yesterday announced positive data from its Phase 2 study with Resunab in patients suffering from diffuse cutaneous systemic sclerosis.
Piros commented, “We believe the data have demonstrated highly encouraging activity with a median CRISS score of 33% versus 0% in placebo-treated cohort. We note that the median score is appropriate in these analyses, based on the non-parametric nature of the data. Furthermore, comparing data between all timepoints, Resunab achieved a statistically significant improvement compared to placebo (p = 0.044). We ask investors to keep in mind that this study was a small, 42-patient trial at an early timepoint in patients on background immunosuppressant therapy. In the view of the lead clinical investigator of the study, these results support a potential registration study with a six month (potentially shorter) safety and efficacy endpoint, pending analyses of the full data set and discussions with regulators.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Elemer Piros has a yearly average return of 12.7% and a 54% success rate. Piros has a 36.8% average return when recommending CRBP, and is ranked #326 out of 4214 analysts.
As of this writing, all the 4 analysts polled by TipRanks rate Corbus Pharmaceuticals stock a Buy. With a return potential of 108.6%, the stock’s consensus target price stands at $17.