Corbus Pharmaceuticals’ (CRBP) “Outperform” Rating Reaffirmed at Wedbush

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

CRBP has been the topic of several other reports. William Blair assumed coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They issued an “outperform” rating on the stock. Jefferies Financial Group cut their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective (down from $75.00) on shares of Corbus Pharmaceuticals in a research report on Wednesday. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. Finally, Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.13.

Corbus Pharmaceuticals Stock Up 0.4 %

Shares of CRBP stock opened at $6.91 on Wednesday. The firm has a market capitalization of $84.16 million, a price-to-earnings ratio of -1.47 and a beta of 2.63. Corbus Pharmaceuticals has a 12-month low of $6.54 and a 12-month high of $61.90. The firm has a fifty day moving average of $9.67 and a 200-day moving average of $19.44.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.24. Research analysts expect that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRBP. Millennium Management LLC increased its stake in shares of Corbus Pharmaceuticals by 215.0% during the 4th quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock worth $4,563,000 after purchasing an additional 263,902 shares during the last quarter. Orbimed Advisors LLC increased its stake in shares of Corbus Pharmaceuticals by 28.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock worth $13,833,000 after purchasing an additional 259,735 shares during the last quarter. Altium Capital Management LLC increased its stake in shares of Corbus Pharmaceuticals by 97.4% during the 4th quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company’s stock worth $4,543,000 after purchasing an additional 190,000 shares during the last quarter. State Street Corp increased its stake in shares of Corbus Pharmaceuticals by 34.6% during the 3rd quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after purchasing an additional 153,243 shares during the last quarter. Finally, Prosight Management LP increased its stake in shares of Corbus Pharmaceuticals by 107.7% during the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after purchasing an additional 140,000 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.