Corbus Pharmaceuticals’ (CRBP) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report published on Monday, MarketBeat reports. They currently have a $40.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also commented on CRBP. B. Riley raised shares of 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 8th. Oppenheimer dropped their target price on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Saturday, July 12th. One equities research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.86.

Corbus Pharmaceuticals Price Performance

Shares of CRBP opened at $18.28 on Monday. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $20.77. The firm has a market capitalization of $224.11 million, a price-to-earnings ratio of -3.84 and a beta of 2.84. The company has a 50-day moving average of $11.81 and a 200 day moving average of $9.16.

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

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Exome Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the first quarter worth about $1,538,000. Armistice Capital LLC boosted its stake in Corbus Pharmaceuticals by 5.9% during the first quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,328,000 after buying an additional 14,000 shares during the period. Comerica Bank boosted its stake in Corbus Pharmaceuticals by 20,000,000.0% during the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock worth $1,062,000 after buying an additional 200,000 shares during the period. Acadian Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the first quarter worth about $1,007,000. Finally, Atle Fund Management AB boosted its stake in Corbus Pharmaceuticals by 78.6% during the second quarter. Atle Fund Management AB now owns 175,582 shares of the biopharmaceutical company’s stock worth $1,212,000 after buying an additional 77,278 shares during the period. Hedge funds and other 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.