Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Rating of “Buy” from Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned an average recommendation of “Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $45.4286.

CRBP has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Corbus Pharmaceuticals in a research note on Wednesday, September 17th. B. Riley upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Wednesday, July 30th. Oppenheimer dropped their price objective on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Finally, Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Saturday, July 12th.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its position in shares of Corbus Pharmaceuticals by 215.0% in the 4th quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock worth $4,563,000 after acquiring an additional 263,902 shares during the period. Exome Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $1,538,000. Armistice Capital LLC lifted its position in shares of Corbus Pharmaceuticals by 5.9% in the 1st quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,328,000 after acquiring an additional 14,000 shares during the period. Comerica Bank lifted its position in shares of Corbus Pharmaceuticals by 20,000,000.0% in the 1st quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock worth $1,062,000 after acquiring an additional 200,000 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $1,007,000. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Down 0.2%

Shares of NASDAQ:CRBP opened at $11.52 on Friday. The business has a 50 day moving average price of $9.63 and a 200 day moving average price of $7.99. Corbus Pharmaceuticals has a twelve month low of $4.64 and a twelve month high of $23.33. The company has a market cap of $141.18 million, a price-to-earnings ratio of -2.42 and a beta of 3.08.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, beating the consensus estimate of ($1.55) by $0.11. Analysts anticipate 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.