Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Consensus Rating of “Buy” from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $59.13.

A number of research firms have recently commented on CRBP. Jefferies Financial Group dropped their price target on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th. Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 target price (down previously from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Finally, Wedbush restated an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $5.52 on Friday. The company has a market capitalization of $67.52 million, a price-to-earnings ratio of -1.18 and a beta of 2.63. The firm’s 50 day simple moving average is $8.20 and its 200 day simple moving average is $15.53. Corbus Pharmaceuticals has a fifty-two week low of $5.49 and a fifty-two week high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.24. Equities research analysts expect that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in CRBP. Victory Capital Management Inc. increased its holdings in Corbus Pharmaceuticals by 29.9% during the third quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock worth $511,000 after buying an additional 5,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Corbus Pharmaceuticals by 224.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after purchasing an additional 64,800 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Corbus Pharmaceuticals by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after purchasing an additional 1,600 shares during the period. FMR LLC lifted its stake in Corbus Pharmaceuticals by 33.0% in the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 2,486 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in Corbus Pharmaceuticals during the third quarter worth about $123,000. Institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.