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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have received an average recommendation of “Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $59.13.

A number of research analysts have weighed in on CRBP shares. Jefferies Financial Group lowered their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective (down previously from $75.00) on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. 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. Finally, Wedbush reissued an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vestcor Inc purchased a new position in shares of Corbus Pharmaceuticals in the third quarter worth $64,000. Wells Fargo & Company MN lifted its stake in Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 2,195 shares in the last quarter. Avanza Fonder AB purchased a new stake in Corbus Pharmaceuticals in the 4th quarter worth $84,000. Deutsche Bank AG boosted its holdings in shares of Corbus Pharmaceuticals by 46.8% during the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 2,616 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth about $101,000. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Up 3.4 %

Shares of CRBP stock opened at $5.20 on Friday. The firm has a market capitalization of $63.61 million, a PE ratio of -1.11 and a beta of 3.12. The company has a 50 day moving average price of $7.80 and a 200-day moving average price of $14.24. Corbus Pharmaceuticals has a 52 week low of $4.92 and a 52 week high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. Analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share 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.