HC Wainwright Reaffirms “Buy” Rating for Corbus Pharmaceuticals (NASDAQ:CRBP)

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $75.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $80.00.

Several other equities analysts also recently issued reports on CRBP. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target for the company. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. Finally, Wedbush reissued an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.38.

Corbus Pharmaceuticals Price Performance

Shares of Corbus Pharmaceuticals stock opened at $8.78 on Monday. The firm has a fifty day moving average price of $12.49 and a two-hundred day moving average price of $26.68. The company has a market cap of $106.94 million, a PE ratio of -1.87 and a beta of 2.63. Corbus Pharmaceuticals has a fifty-two week low of $8.74 and a fifty-two week high of $61.90.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Vestcor Inc acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $64,000. Avanza Fonder AB bought a new position in Corbus Pharmaceuticals during the 4th quarter worth approximately $84,000. JPMorgan Chase & Co. boosted its stake 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 acquiring an additional 1,172 shares during the last quarter. MetLife Investment Management LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter worth approximately $123,000. Finally, SG Americas Securities LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter worth approximately $151,000. Institutional investors and hedge funds own 64.64% 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, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.