Corbus Pharmaceuticals Holdings shares are trading lower amid sympathy with Novo Nordisk after the company reported results from its Phase2a trial of Monlunabant in obesity. Also, Wedbush maintained an Outperform rating on the stock but lowered its price target from $85 to $51.
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Corbus Pharmaceuticals Holdings shares are trading lower in sympathy with Novo Nordisk after Novo's Phase2a trial results for Monlunabant in obesity. Wedbush maintained an Outperform rating on Corbus but lowered its price target from $85 to $51.
September 20, 2024 | 4:29 pm
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NEGATIVE IMPACT
Corbus Pharmaceuticals shares are down due to Novo Nordisk's trial results. Wedbush still sees potential, maintaining an Outperform rating but lowering the price target significantly.
Corbus shares are affected by Novo Nordisk's trial results, indicating market sensitivity to industry developments. The lowered price target by Wedbush suggests reduced short-term expectations, contributing to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80