Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price Up 10.6% on Analyst Upgrade

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBPGet Free Report) traded up 10.6% during trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $77.00 to $82.00. Royal Bank of Canada currently has an outperform rating on the stock. Corbus Pharmaceuticals traded as high as $49.75 and last traded at $48.53. 94,740 shares were traded during mid-day trading, a decline of 85% from the average session volume of 618,020 shares. The stock had previously closed at $43.87.

Several other equities analysts also recently issued reports on CRBP. downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 4th. Oppenheimer increased their price objective on shares of Corbus Pharmaceuticals from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. Finally, Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.00 to $46.00 in a research note on Wednesday, March 6th.

View Our Latest Report on Corbus Pharmaceuticals

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently made changes to their positions in the business. Ikarian Capital LLC grew its position in Corbus Pharmaceuticals by 185.5% in the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after buying an additional 363,372 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter worth $13,363,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter worth $7,554,000. Altitude Crest Partners Inc. purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter valued at $4,069,000. Finally, Vanguard Group Inc. increased its stake in Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after purchasing an additional 257,808 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Up 8.5 %

The company has a fifty day simple moving average of $41.17 and a 200-day simple moving average of $26.90. The stock has a market cap of $508.84 million, a price-to-earnings ratio of -6.79 and a beta of 2.52.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.26. As a group, analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -5.86 earnings per share for the current year.

Corbus Pharmaceuticals Company Profile

(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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