Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $62.00 Average Price Target from Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have been given a consensus recommendation of "Buy" by the nine research firms that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $62.00.

CRBP has been the topic of a number of recent research reports. Mizuho reaffirmed an "outperform" rating and issued a $74.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Wedbush reiterated an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. B. Riley cut their price target on Corbus Pharmaceuticals from $85.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Finally, Piper Sandler initiated coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an "overweight" rating and a $35.00 price target for the company.

Corbus Pharmaceuticals Trading Down 4.2 %

Corbus Pharmaceuticals stock traded down $0.49 during trading on Monday, reaching $11.30. The company had a trading volume of 127,088 shares, compared to its average volume of 169,955. Corbus Pharmaceuticals has a 52 week low of $5.67 and a 52 week high of $61.90. The firm's 50-day simple moving average is $15.40 and its 200 day simple moving average is $32.95. The firm has a market capitalization of $137.62 million, a price-to-earnings ratio of -2.41 and a beta of 2.63.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRBP. Bank of New York Mellon Corp purchased a new position in Corbus Pharmaceuticals in the second quarter worth about $1,368,000. Charles Schwab Investment Management Inc. grew its position in Corbus Pharmaceuticals by 224.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company's stock worth $1,932,000 after acquiring an additional 64,800 shares in the last quarter. Darwin Global Management Ltd. purchased a new position in Corbus Pharmaceuticals in the second quarter worth about $14,267,000. State Street Corp grew its position in Corbus Pharmaceuticals by 34.6% in the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company's stock worth $12,287,000 after acquiring an additional 153,243 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Corbus Pharmaceuticals in the second quarter worth about $716,000. 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.