Corbus Pharmaceuticals’ (CRBP) “Buy” Rating Reiterated at HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $75.00 price target on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Monday, January 13th. Piper Sandler began coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.38.

Corbus Pharmaceuticals Price Performance

Shares of CRBP opened at $8.51 on Tuesday. Corbus Pharmaceuticals has a one year low of $8.01 and a one year high of $61.90. The stock’s fifty day moving average is $11.94 and its 200-day moving average is $25.29.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. JPMorgan Chase & Co. grew its position in Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,172 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Corbus Pharmaceuticals by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after acquiring an additional 1,600 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 2,195 shares during the last quarter. FMR LLC raised its position in shares of Corbus Pharmaceuticals by 33.0% during the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 2,486 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Corbus Pharmaceuticals by 46.8% during the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 2,616 shares during the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.

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.