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

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

Several brokerages have recently weighed in on CRBP. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price (down previously from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. William Blair started coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an “outperform” rating on the stock. Jefferies Financial Group cut their price objective on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Finally, StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th.

Corbus Pharmaceuticals Stock Up 6.2 %

NASDAQ CRBP opened at $6.69 on Wednesday. The firm has a market cap of $81.83 million, a P/E ratio of -1.43 and a beta of 3.12. Corbus Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $61.90. The business’s 50-day moving average price is $6.45 and its 200 day moving average price is $11.82.

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

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,172 shares during the last quarter. Wells Fargo & Company MN raised 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 valued at $76,000 after purchasing an additional 2,195 shares during the last quarter. Avanza Fonder AB purchased a new position in Corbus Pharmaceuticals in the 4th quarter valued at about $84,000. Deutsche Bank AG boosted its stake 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 worth $97,000 after purchasing an additional 2,616 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth about $101,000. Hedge funds and other institutional investors 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.