Corbus Pharmaceuticals (NASDAQ:CRBP) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report released on Monday morning, RTT News reports. They currently have a $51.00 target price on the biopharmaceutical company’s stock.

CRBP has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st. Mizuho reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. B. Riley cut their price target on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. One equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Corbus Pharmaceuticals Trading Up 8.2 %

CRBP opened at $18.31 on Monday. The firm’s fifty day moving average is $31.46 and its two-hundred day moving average is $42.46. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $61.90.

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 the consensus estimate of ($1.19) by $0.29. As a group, equities analysts expect that Corbus Pharmaceuticals will post -3.8 earnings per share for the current year.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average cost of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the transaction, the insider now owns 2,375,000 shares in the company, valued at $47,523,750. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

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

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.