Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $50.88 Average Target Price from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned an average recommendation of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $50.88.

CRBP has been the topic of a number of research reports. Jefferies Financial Group reduced their target price on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. Wedbush reiterated an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Oppenheimer reduced their target price on shares of Corbus Pharmaceuticals from $60.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, William Blair initiated coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an “outperform” rating on the stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Exome Asset Management LLC acquired a new position in Corbus Pharmaceuticals in the first quarter valued at approximately $1,538,000. AQR Capital Management LLC bought a new stake in Corbus Pharmaceuticals in the first quarter valued at approximately $573,000. Armistice Capital LLC increased its stake in Corbus Pharmaceuticals by 5.9% in the first quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company’s stock valued at $1,328,000 after purchasing an additional 14,000 shares in the last quarter. Velan Capital Investment Management LP increased its stake in Corbus Pharmaceuticals by 4.1% in the first quarter. Velan Capital Investment Management LP now owns 59,000 shares of the biopharmaceutical company’s stock valued at $313,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Comerica Bank increased its stake in Corbus Pharmaceuticals by 20,000,000.0% in the first 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 in the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Stock Down 2.4%

NASDAQ:CRBP opened at $7.57 on Friday. The firm has a market cap of $92.63 million, a PE ratio of -1.61 and a beta of 3.19. Corbus Pharmaceuticals has a 12 month low of $4.64 and a 12 month high of $61.90. The company’s 50-day moving average price is $6.40 and its two-hundred day moving average price is $10.37.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.13). On average, research analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

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.