Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Recommendation of "Buy" from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) has been assigned an average recommendation of "Buy" from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Nine 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 $59.13.

A number of research firms have commented on CRBP. StockNews.com upgraded Corbus Pharmaceuticals to a "sell" rating in a research report on Thursday, March 6th. HC Wainwright restated a "buy" rating and issued a $50.00 price objective (down previously from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. William Blair began coverage on shares of Corbus Pharmaceuticals in a report on Friday, February 28th. They set an "outperform" rating on the stock. Wedbush reissued an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Finally, Jefferies Financial Group cut their price objective on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th.

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Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of CRBP. Charles Schwab Investment Management Inc. increased its holdings in shares of Corbus Pharmaceuticals by 224.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company's stock valued at $1,932,000 after acquiring an additional 64,800 shares during the last quarter. State Street Corp raised its holdings in Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company's stock worth $12,287,000 after purchasing an additional 153,243 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock valued at $114,000 after buying an additional 1,172 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Corbus Pharmaceuticals by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company's stock valued at $5,154,000 after buying an additional 18,702 shares during the last quarter. Finally, HighVista Strategies LLC raised its stake in Corbus Pharmaceuticals by 94.1% during the 3rd quarter. HighVista Strategies LLC now owns 75,292 shares of the biopharmaceutical company's stock worth $1,553,000 after acquiring an additional 36,499 shares in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP traded up $0.16 during mid-day trading on Friday, hitting $5.19. 41,818 shares of the company were exchanged, compared to its average volume of 235,616. The stock has a market cap of $63.44 million, a price-to-earnings ratio of -1.10 and a beta of 2.63. Corbus Pharmaceuticals has a 1-year low of $4.91 and a 1-year high of $61.90. The company has a 50 day moving average of $7.93 and a 200-day moving average of $14.30.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.24. Research analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Corbus Pharmaceuticals Company Profile

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.