Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Reaffirmed by HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They presently have a $80.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 336.21% from the company’s current price.

Several other equities research analysts have also commented on the stock. Mizuho reiterated an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. StockNews.com downgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Wedbush reduced their target price on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Corbus Pharmaceuticals Trading Down 3.4 %

Shares of NASDAQ CRBP opened at $18.34 on Monday. The firm’s 50-day moving average price is $53.39 and its 200-day moving average price is $46.77. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $61.90. The firm has a market capitalization of $196.00 million, a P/E ratio of -2.64 and a beta of 2.56.

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

Insider Buying and Selling

In other news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $20.01 per share, with a total value of $7,003,500.00. Following the acquisition, the insider now directly owns 2,375,000 shares in the company, valued at $47,523,750. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by insiders.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ikarian Capital LLC grew its holdings in Corbus Pharmaceuticals by 185.5% in the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after acquiring an additional 363,372 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Corbus Pharmaceuticals in the first quarter worth approximately $13,363,000. Darwin Global Management Ltd. bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $14,267,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Corbus Pharmaceuticals during the 1st quarter valued at $7,554,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

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.