Corbus Pharmaceuticals’ (CRBP) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report published on Monday morning, RTT News reports. The brokerage currently has a $51.00 target price on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on the stock. Oppenheimer upped their target price on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. B. Riley decreased their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.86.

Corbus Pharmaceuticals Trading Down 1.3 %

Corbus Pharmaceuticals stock opened at $18.91 on Monday. The firm’s 50 day simple moving average is $29.96 and its 200 day simple moving average is $42.15. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $61.90. The firm has a market capitalization of $227.75 million, a PE ratio of -3.25 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.29. Research analysts forecast that Corbus Pharmaceuticals will post -3.8 earnings per share for the current year.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was acquired at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the acquisition, the insider now owns 2,375,000 shares in the company, valued at $47,523,750. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Corbus Pharmaceuticals during the 3rd quarter valued at approximately $151,000. Rhumbline Advisers purchased a new position in shares of Corbus Pharmaceuticals in the 2nd quarter worth about $638,000. Acadian Asset Management LLC bought a new position in Corbus Pharmaceuticals in the 2nd quarter worth about $716,000. ClariVest Asset Management LLC bought a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at about $725,000. Finally, Victory Capital Management Inc. purchased a new position in Corbus Pharmaceuticals in the second quarter worth about $862,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

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.