Nasdaq-Traded Cannabinoid Biotech Corbus Pharma Stock Plunges 60%, But Analysts Say ‘Buy The Dip’ Now
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) received reaffirmed buy ratings from both H.C. Wainwright and Oppenheimer this week, with analysts citing the company’s diversified pipeline as a key driver for future growth, despite a sharp stock decline after Novo Nordisk‘s (NYSE:NVO) mid-stage data on its obesity drug.
Andres Maldonado of H.C. Wainwright reiterated a Buy rating for Corbus with an $80 price target, highlighting that Novo’s recent challenges with monlunabant, a drug targeting the same receptor as Corbus’ CRB-913, should not impact the latter’s potential. The stock currently trades below the $20 mark.
Maldonado …