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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $45.8571.

A number of research analysts have recently weighed in on CRBP shares. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Saturday, July 12th. Piper Sandler restated an “overweight” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday. Wedbush lifted their price objective on Corbus Pharmaceuticals from $31.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, B. Riley upgraded Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, July 30th.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRBP. Corton Capital Inc. acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter worth about $86,000. Marshall Wace LLP acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter worth about $137,000. Baker Avenue Asset Management LP acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter worth about $138,000. Y Intercept Hong Kong Ltd acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter worth about $141,000. Finally, Stonepine Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the 1st quarter worth about $186,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Up 5.9%

Shares of CRBP stock opened at $19.36 on Wednesday. Corbus Pharmaceuticals has a fifty-two week low of $4.64 and a fifty-two week high of $20.77. The stock has a market cap of $237.26 million, a P/E ratio of -4.07 and a beta of 2.84. The business has a fifty day simple moving average of $12.02 and a 200-day simple moving average of $9.23.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.11. On average, sell-side analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

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.