Nasdaq-Traded Cannabinoid Biotech Corbus Pharma Stock Plunges 60%, But Analysts Say 'Buy The Dip' Now
Portfolio Pulse from Nicolás Jose Rodriguez
Corbus Pharmaceuticals (NASDAQ:CRBP) stock plunged 60% following Novo Nordisk's (NYSE:NVO) obesity drug data, but analysts from H.C. Wainwright, Oppenheimer, and Mizuho recommend buying the dip. They highlight Corbus' diversified pipeline, including CRB-913 and CRB-701, as key growth drivers.
September 23, 2024 | 6:01 pm
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POSITIVE IMPACT
Corbus Pharmaceuticals' stock fell 60% after Novo Nordisk's obesity drug data, but analysts recommend buying due to Corbus' strong pipeline, including CRB-913 and CRB-701.
Despite a 60% stock drop, analysts from H.C. Wainwright, Oppenheimer, and Mizuho maintain buy ratings, citing Corbus' diversified pipeline. The focus is on CRB-913 and CRB-701, with positive Phase 1 data for CRB-701, suggesting the stock is undervalued.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Novo Nordisk's mid-stage data on its obesity drug impacted Corbus Pharmaceuticals' stock, but analysts believe Corbus' pipeline remains strong.
Novo Nordisk's drug data indirectly affected Corbus' stock, but analysts focus on Corbus' pipeline. Novo's challenges with monlunabant are not seen as impacting Corbus' CRB-913 potential.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30