Analysts Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) PT at $62.00

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have received a consensus recommendation of "Buy" from the nine research firms that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $62.00.

Several analysts have weighed in on the stock. Mizuho reissued an "outperform" rating and issued a $74.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Piper Sandler initiated coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an "overweight" rating and a $35.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. B. Riley cut their price target on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Finally, Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 21st.

Insider Buying and Selling

In related news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the purchase, the insider now directly owns 2,375,000 shares of the company's stock, valued at approximately $47,523,750. This represents a 17.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in shares of Corbus Pharmaceuticals during the second quarter valued at $1,368,000. Rhumbline Advisers bought a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at about $638,000. TD Asset Management Inc raised its holdings in Corbus Pharmaceuticals by 92.5% in the second quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company's stock worth $1,846,000 after buying an additional 19,600 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Corbus Pharmaceuticals in the second quarter worth about $862,000. Finally, Acadian Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals in the second quarter worth approximately $716,000. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Trading Up 0.2 %

Shares of CRBP stock traded up $0.03 during trading hours on Thursday, hitting $13.33. 263,982 shares of the company's stock were exchanged, compared to its average volume of 543,286. Corbus Pharmaceuticals has a 12-month low of $5.09 and a 12-month high of $61.90. The company has a market capitalization of $162.35 million, a PE ratio of -2.84 and a beta of 2.57. The business's 50 day simple moving average is $17.06 and its 200-day simple moving average is $37.01.

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.