Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) had its price target boosted by equities researchers at Oppenheimer from $20.00 to $51.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target points to a potential upside of 102.70% from the company’s current price.
Separately, StockNews.com began coverage on shares of Corbus Pharmaceuticals in a research note on Friday, January 26th. They set a “sell” rating for the company.
Corbus Pharmaceuticals Trading Up 35.1 %
Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($2.27) EPS for the quarter, missing the consensus estimate of ($2.06) by ($0.21). Equities research analysts forecast that Corbus Pharmaceuticals will post -11 EPS for the current year.
Insider Transactions at Corbus Pharmaceuticals
In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 282,632 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was acquired at an average price of $32.24 per share, with a total value of $9,112,055.68. Following the completion of the transaction, the insider now directly owns 725,000 shares in the company, valued at approximately $23,374,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.80% of the stock is currently owned by insiders.
Institutional Trading of Corbus Pharmaceuticals
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Corbus Pharmaceuticals by 13.6% during the second quarter. BlackRock Inc. now owns 81,964 shares of the biopharmaceutical company’s stock valued at $643,000 after purchasing an additional 9,807 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Corbus Pharmaceuticals by 131.0% during the second quarter. Dimensional Fund Advisors LP now owns 31,600 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 17,919 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Corbus Pharmaceuticals by 366.7% in the fourth quarter. Two Sigma Investments LP now owns 570,168 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 448,002 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Corbus Pharmaceuticals by 40.6% in the second quarter. Renaissance Technologies LLC now owns 1,626,860 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 469,669 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Corbus Pharmaceuticals by 10.7% in the first quarter. State Street Corp now owns 395,513 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 38,304 shares during the last quarter. Institutional investors and hedge funds own 16.73% of the company’s stock.
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, an endocannabinoid small molecule drug for the treatment of obesity and related metabolic diseases; and lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial or the treatment of inflammation and fibrosis.
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