Corbus Pharmaceuticals (NASDAQ:CRBP) Rating Reiterated by Mizuho

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “outperform” rating reiterated by Mizuho in a research note issued to investors on Friday, Benzinga reports. They currently have a $74.00 price target on the biopharmaceutical company’s stock. Mizuho’s price target would suggest a potential upside of 279.29% from the stock’s previous close.

CRBP has been the topic of a number of other research reports. B. Riley assumed coverage on Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday, August 6th. Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st. Wedbush cut their price target on Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $65.86.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP opened at $19.51 on Friday. Corbus Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $61.90. The stock has a market capitalization of $208.50 million, a P/E ratio of -2.80 and a beta of 2.56. The stock’s fifty day moving average is $55.03 and its 200 day moving average is $47.01.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Equities research analysts forecast that Corbus Pharmaceuticals will post -3.77 earnings per share for the current year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in CRBP. Rhumbline Advisers acquired a new position in shares of Corbus Pharmaceuticals in the second quarter worth approximately $638,000. Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the second quarter worth approximately $716,000. ClariVest Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the second quarter worth approximately $725,000. Victory Capital Management Inc. acquired a new position in shares of Corbus Pharmaceuticals in the second quarter worth approximately $862,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of 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 worth $956,000 after acquiring an additional 10,604 shares during the period. 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.