Corbus Pharmaceuticals (NASDAQ:CRBP) Receives “Buy” Rating from HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $50.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $75.00.

Other equities analysts have also issued reports about the company. Jefferies Financial Group dropped their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 price objective for the company. Finally, William Blair initiated coverage on Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $6.88 on Wednesday. The company has a market cap of $83.79 million, a PE ratio of -1.47 and a beta of 2.63. The stock has a fifty day moving average price of $9.77 and a 200 day moving average price of $19.53. Corbus Pharmaceuticals has a 1-year low of $6.54 and a 1-year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. Analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vestcor Inc acquired a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $64,000. JPMorgan Chase & Co. lifted its holdings in Corbus Pharmaceuticals by 27.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,172 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the 3rd quarter worth approximately $123,000. Wells Fargo & Company MN increased its holdings in shares of Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 2,195 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of Corbus Pharmaceuticals during the 4th quarter valued at approximately $84,000. 64.64% of the stock is currently owned by institutional investors.

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.