Corbus Pharmaceuticals (NASDAQ:CRBP) Receives “Buy” Rating from HC Wainwright

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

A number of other equities research analysts have also weighed in on the stock. Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. Wedbush reissued an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Finally, StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.38.

Corbus Pharmaceuticals Price Performance

CRBP stock opened at $10.15 on Monday. The business’s 50-day moving average is $12.65 and its two-hundred day moving average is $27.19. The firm has a market capitalization of $123.63 million, a P/E ratio of -2.16 and a beta of 2.63. Corbus Pharmaceuticals has a 1 year low of $9.11 and a 1 year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results 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). On average, analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Trading of Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,172 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Corbus Pharmaceuticals by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after buying an additional 1,600 shares during the last quarter. FMR LLC boosted its holdings in shares of Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 2,486 shares during the period. Vestcor Inc purchased a new position in shares of Corbus Pharmaceuticals during the third quarter worth approximately $64,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Corbus Pharmaceuticals by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 97,882 shares of the biopharmaceutical company’s stock valued at $1,155,000 after acquiring an additional 4,239 shares during the period. 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.