Market Overview

HC Wainwright Bullish On Corbus Therapeutics' Cystic Fibrosis Opportunity

HC Wainwright Bullish On Corbus Therapeutics' Cystic Fibrosis Opportunity

Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP) has Phase 3 trials ongoing for its lead compound lenabasum in systemic sclerosis and dermatomyositis, and Phase 2 trials for cystic fibrosis and systemic lupus erythematosus.

With cannabinoid receptor type 2 being a critical component of resolution following inflammation, there could be “significant readthrough from one indication to the next,” according to H.C. Wainwright.

The Analyst

Analyst Andrew Fein initiated coverage of Corbus Pharmaceuticals with a Buy rating and $24 price target. 

The Thesis

Although success in systemic sclerosis or dermatomyositis alone may be insufficient to lend upside to Corbus Pharmaceuticals’ shares, there is potential in lenabasum’s ability to address inflammation in cystic fibrosis, Fein said in the Wednesday initiation note. 

Cystic fibrosis patients experience chronic inflammation that results in a decline in lung function, and the disease is strongly associated with more frequent pulmonary exacerbations and morbidity.

While Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)'s triple therapies may make modulator therapy available for nearly 90 percent of those with a CF mutation, modulators of the cystic fibrosis transmembrane conductance regulator are unlikely to fully reverse the structural damage in CF patients, the analyst said. 

A need exists for anti-inflammatory therapy in the cystic fibrosis space, Fein said, adding that addressing the resolution phase could offer a new approach. Lenabasum provides "the most advanced agent to target resolution," he said. 

Price Action

Corbus Pharmaceuticals were trading higher by 5.13 percent at $5.53 at the time of publication Wednesday. 

Related Links:

Corbus Pharmaceuticals Presents Lenabasum Long-Term Open-Label Clinical Data

Morgan Stanley Maintains Overweight on Vertex Pharmaceuticals, Lowers Price Target to $210

Latest Ratings for CRBP

Apr 2019Initiates Coverage OnBuy
Mar 2019Initiates Coverage OnOutperform
Dec 2018Initiates Coverage OnBuy

View More Analyst Ratings for CRBP
View the Latest Analyst Ratings

Posted-In: Andrew S. Fein H.C. WainwrightAnalyst Color Biotech Price Target Initiation Analyst Ratings General Best of Benzinga


Related Articles (VRTX + CRBP)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at