Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Recommendation of “Buy” by Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been given an average rating of “Buy” by the nine ratings firms that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $62.00.

Several brokerages have recently weighed in on CRBP. Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price objective on the stock. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. Finally, Wedbush restated an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Vestcor Inc bought a new stake in Corbus Pharmaceuticals in the 3rd quarter worth about $64,000. JPMorgan Chase & Co. grew its position 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 in the last quarter. MetLife Investment Management LLC bought a new stake in Corbus Pharmaceuticals in the 3rd quarter worth about $123,000. Avanza Fonder AB bought a new stake in Corbus Pharmaceuticals in the 4th quarter worth about $84,000. Finally, SG Americas Securities LLC bought a new stake in Corbus Pharmaceuticals in the 3rd quarter worth about $151,000. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ CRBP opened at $11.30 on Friday. The firm’s 50-day moving average price is $12.93 and its 200-day moving average price is $27.85. Corbus Pharmaceuticals has a 1-year low of $9.11 and a 1-year high of $61.90. The firm has a market capitalization of $137.62 million, a P/E ratio of -2.41 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.16). Equities research analysts forecast that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

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.