Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded by StockNews.com to “Sell” Rating

StockNews.com upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) to a sell rating in a report published on Monday morning.

Several other research firms have also recently weighed in on CRBP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Wedbush reiterated an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. B. Riley cut their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, September 20th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Corbus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock opened at $12.39 on Monday. Corbus Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $61.90. The stock has a market cap of $150.91 million, a P/E ratio of -2.64 and a beta of 2.57. The firm’s fifty day moving average price is $14.98 and its 200-day moving average price is $32.34.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Vestcor Inc bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $64,000. JPMorgan Chase & Co. increased its stake in Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,172 shares during the period. MetLife Investment Management LLC purchased a new position in Corbus Pharmaceuticals in the 3rd quarter worth approximately $123,000. Avanza Fonder AB bought a new stake in Corbus Pharmaceuticals in the fourth quarter valued at approximately $84,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $151,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

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.