Analysts Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Price Target at $62.00

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $62.00.

A number of research firms have recently commented on CRBP. Wedbush reissued an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Piper Sandler began coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target for the company.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vestcor Inc acquired a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $64,000. Avanza Fonder AB acquired a new position in Corbus Pharmaceuticals in the fourth quarter valued at approximately $84,000. JPMorgan Chase & Co. grew its holdings in shares of Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,172 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $123,000. Finally, SG Americas Securities LLC bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter worth approximately $151,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock opened at $11.92 on Monday. Corbus Pharmaceuticals has a one year low of $6.20 and a one year high of $61.90. The stock’s 50 day moving average price is $14.73 and its 200 day moving average price is $31.71. The firm has a market capitalization of $145.19 million, a PE ratio of -2.54 and a beta of 2.63.

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.