Analysts Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) PT at $45.00

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $44.3750.

A number of equities research analysts recently weighed in on CRBP shares. Piper Sandler restated an “overweight” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Royal Bank Of Canada lowered their target price on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday. Oppenheimer cut their price target on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Wedbush increased their price objective on shares of Corbus Pharmaceuticals from $31.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Benchmark restated a “reduce” rating on shares of Corbus Pharmaceuticals in a report on Monday, October 20th.

Insider Activity at Corbus Pharmaceuticals

In related news, CFO Sean F. Moran sold 12,981 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $17.02, for a total value of $220,936.62. Following the sale, the chief financial officer owned 73,313 shares of the company’s stock, valued at approximately $1,247,787.26. This represents a 15.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yuval Cohen sold 18,660 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $17.01, for a total value of $317,406.60. Following the transaction, the chief executive officer directly owned 138,187 shares of the company’s stock, valued at $2,350,560.87. The trade was a 11.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,674 shares of company stock valued at $713,870 over the last 90 days. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently modified their holdings of CRBP. Exome Asset Management LLC purchased a new stake in Corbus Pharmaceuticals in the 1st quarter valued at about $1,538,000. Comerica Bank boosted its holdings 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 valued at $1,062,000 after purchasing an additional 200,000 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at $1,007,000. Aberdeen Group plc increased its holdings in shares of Corbus Pharmaceuticals by 160.6% during the 3rd quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company’s stock worth $2,381,000 after buying an additional 116,005 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in Corbus Pharmaceuticals in the first quarter valued at $573,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Stock Down 1.1%

NASDAQ:CRBP opened at $11.07 on Friday. The firm’s fifty day simple moving average is $13.34 and its 200-day simple moving average is $10.10. The stock has a market cap of $135.66 million, a PE ratio of -2.33 and a beta of 2.69. Corbus Pharmaceuticals has a fifty-two week low of $4.64 and a fifty-two week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). Equities analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share 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.