4. Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)
Average Price Target Upside: 225.05%
Number of Hedge Fund Holders: 30
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) is an oncology-focused company dedicated to developing innovative therapies aimed at addressing serious illnesses. The company’s diverse portfolio includes promising candidates that target well-understood biological pathways to create effective treatments for cancer and other conditions.
Among these, CRB-701 stands out as a next-generation antibody-drug conjugate designed to specifically target Nectin-4, a protein found on the surface of certain cancer cells. By binding to these cells, CRB-701 releases a cytotoxic agent that effectively works on cancer cells during trials while sparing healthy tissues, which presents a more targeted approach to cancer therapy.
Another significant asset in the Corbus Pharmaceuticals (NASDAQ:CRBP) pipeline is CRB-601, an anti-integrin monoclonal antibody. The candidate’s preclinical data has shown that it plays a crucial role in blocking TGFβ activation on cancer cells, which improves the immune system’s ability to identify and combat tumors. The dual-action approach of targeting cancer directly while empowering the immune system could yield promising outcomes for patients.
In addition to its oncology therapies, the company is advancing CRB-913, an inverse agonist for the CB1 receptor aimed at tackling obesity. By influencing a receptor in the brain that regulates hunger and fat storage, CRB-913 seeks to reduce appetite and alter the body’s fat processing and offers a potential new avenue for weight loss solutions.
The stock ranks 4th on our list of the best Russell 2000 stocks to buy according to analysts. It has a Buy rating according to 8 analysts. The average price target of $68.00 has a 225.05% upside from the current levels, as of September 27.
At the ASCO 2024 conference in June, the company presented encouraging results for CRB-701, showing an Overall Response Rate (ORR) of 44% in patients with metastatic urothelial cancer and 43% in those with cervical cancer.
These figures indicate that nearly half of the patients with bladder cancer experienced significant tumor reductions, while about two-fifths of cervical cancer patients saw similar improvements.
The Disease Control Rate (DCR) was even more favorable, with rates of 78% for bladder cancer and 86% for cervical cancer, demonstrating that a large portion of patients either experienced tumor shrinkage or stabilization, which is a positive indication in the fight against cancer.
Corbus Pharmaceuticals (NASDAQ:CRBP) reported cash, cash equivalents, and investments totaling $147 million, as of June 30. The company successfully raised $35.6 million through its ATM program in the second quarter and added approximately $28.8 million in net proceeds by August 1, 2024. With a total of about $176 million on hand, the company is well-positioned to fund its operations through the third quarter of 2027, allowing enough time to advance its clinical trials and development programs.
