Jefferies Financial Group Lowers Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target to $53.00

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective cut by equities researchers at Jefferies Financial Group from $70.00 to $53.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock.

CRBP has been the topic of several other research reports. William Blair began coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They set an “outperform” rating on the stock. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th. Piper Sandler assumed coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.25.

Corbus Pharmaceuticals Trading Up 1.5 %

NASDAQ:CRBP traded up $0.11 during trading hours on Tuesday, reaching $6.90. 156,682 shares of the company were exchanged, compared to its average volume of 243,226. The firm has a market cap of $83.97 million, a PE ratio of -1.46 and a beta of 2.63. The stock’s 50-day moving average is $9.87 and its 200-day moving average is $19.90. Corbus Pharmaceuticals has a twelve month low of $6.54 and a twelve month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.24. As a group, research analysts anticipate that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in Corbus Pharmaceuticals by 224.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after acquiring an additional 64,800 shares in the last quarter. State Street Corp increased its stake in shares of Corbus Pharmaceuticals by 34.6% in the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock valued at $12,287,000 after buying an additional 153,243 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 buying an additional 1,172 shares in the last quarter. Geode Capital Management LLC grew its holdings in Corbus Pharmaceuticals by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company’s stock worth $5,154,000 after acquiring an additional 18,702 shares during the last quarter. Finally, HighVista Strategies LLC increased its position in Corbus Pharmaceuticals by 94.1% in the 3rd quarter. HighVista Strategies LLC now owns 75,292 shares of the biopharmaceutical company’s stock valued at $1,553,000 after acquiring an additional 36,499 shares in the last quarter. 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.