Corbus Pharmaceuticals (NASDAQ:CRBP) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $75.00.

Several other equities analysts also recently issued reports on CRBP. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective for the company. William Blair initiated coverage on shares of Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group decreased their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.13.

Corbus Pharmaceuticals Trading Up 0.4 %

Shares of CRBP stock opened at $6.91 on Wednesday. The firm has a fifty day moving average price of $9.67 and a 200 day moving average price of $19.44. The company has a market cap of $84.16 million, a P/E ratio of -1.47 and a beta of 2.63. Corbus Pharmaceuticals has a 12 month low of $6.54 and a 12 month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.24. On average, equities analysts forecast that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Corbus Pharmaceuticals by 224.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock valued at $1,932,000 after buying an additional 64,800 shares during the last quarter. State Street Corp raised its holdings in Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after purchasing an additional 153,243 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,172 shares in the last quarter. Geode Capital Management LLC raised its holdings in Corbus Pharmaceuticals by 8.1% during the third quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company’s stock worth $5,154,000 after purchasing an additional 18,702 shares in the last quarter. Finally, HighVista Strategies LLC raised its holdings in Corbus Pharmaceuticals by 94.1% during the third quarter. HighVista Strategies LLC now owns 75,292 shares of the biopharmaceutical company’s stock worth $1,553,000 after purchasing an additional 36,499 shares in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Company Profile

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.