Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Recommendation of “Buy” from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBPGet Free Report) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $65.86.

A number of equities analysts have recently commented on CRBP shares. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. B. Riley lowered their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Mizuho reissued an “outperform” rating and set a $74.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Finally, Oppenheimer boosted their price objective on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.

View Our Latest Stock Report on Corbus Pharmaceuticals

Insider Buying and Selling

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the purchase, the insider now directly owns 2,375,000 shares in the company, valued at $47,523,750. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in Corbus Pharmaceuticals by 29.9% in the third quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock valued at $511,000 after buying an additional 5,700 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Corbus Pharmaceuticals in the third quarter valued at approximately $151,000. The Manufacturers Life Insurance Company lifted its stake in 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 valued at $956,000 after buying an additional 10,604 shares during the last quarter. Rhumbline Advisers purchased a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $638,000. Finally, Acadian Asset Management LLC purchased a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $716,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $19.15 on Wednesday. The company has a market cap of $230.64 million, a P/E ratio of -3.30 and a beta of 2.56. The stock has a 50-day moving average of $30.69 and a two-hundred day moving average of $42.32. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.29. On average, analysts anticipate that Corbus Pharmaceuticals will post -3.8 EPS for the current fiscal year.

About Corbus Pharmaceuticals

(Get Free Report

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.

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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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