Wedbush Boosts Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target to $38.00

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective lifted by Wedbush from $31.00 to $38.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target indicates a potential upside of 96.28% from the stock’s current price.

Several other research analysts have also recently issued reports on CRBP. B. Riley raised Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, July 30th. Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Saturday, July 12th. Oppenheimer lowered their price objective on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Benchmark reaffirmed a “reduce” rating on shares of Corbus Pharmaceuticals in a research report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.86.

Corbus Pharmaceuticals Stock Performance

NASDAQ CRBP opened at $19.36 on Monday. Corbus Pharmaceuticals has a one year low of $4.64 and a one year high of $20.77. The stock has a 50-day moving average of $12.02 and a 200 day moving average of $9.23. The company has a market capitalization of $237.26 million, a price-to-earnings ratio of -4.07 and a beta of 2.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.55) by $0.11. On average, equities analysts predict that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corton Capital Inc. bought a new stake in Corbus Pharmaceuticals in the 2nd quarter worth approximately $86,000. Marshall Wace LLP bought a new stake in Corbus Pharmaceuticals in the 2nd quarter worth approximately $137,000. Baker Avenue Asset Management LP bought a new stake in Corbus Pharmaceuticals in the 2nd quarter worth approximately $138,000. Y Intercept Hong Kong Ltd bought a new stake in Corbus Pharmaceuticals in the 2nd quarter worth approximately $141,000. Finally, Stonepine Capital Management LLC bought a new stake in Corbus Pharmaceuticals in the 1st quarter worth approximately $186,000. Institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

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.