Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $65.86.
A number of equities analysts have recently commented on CRBP shares. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. B. Riley lowered their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Mizuho reissued an “outperform” rating and set a $74.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Finally, Oppenheimer boosted their price objective on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.
View Our Latest Stock Report on Corbus Pharmaceuticals
Insider Buying and Selling
Institutional Investors Weigh In On Corbus Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in Corbus Pharmaceuticals by 29.9% in the third quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock valued at $511,000 after buying an additional 5,700 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Corbus Pharmaceuticals in the third quarter valued at approximately $151,000. The Manufacturers Life Insurance Company lifted its stake in Corbus Pharmaceuticals by 100.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock valued at $956,000 after buying an additional 10,604 shares during the last quarter. Rhumbline Advisers purchased a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $638,000. Finally, Acadian Asset Management LLC purchased a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $716,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.
Corbus Pharmaceuticals Price Performance
NASDAQ CRBP opened at $19.15 on Wednesday. The company has a market cap of $230.64 million, a P/E ratio of -3.30 and a beta of 2.56. The stock has a 50-day moving average of $30.69 and a two-hundred day moving average of $42.32. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $61.90.
Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.29. On average, analysts anticipate that Corbus Pharmaceuticals will post -3.8 EPS for the current fiscal 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.
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