Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Consensus Rating of "Buy" by Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have received a consensus rating of "Buy" from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $59.13.

CRBP has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. William Blair started coverage on shares of Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an "outperform" rating on the stock. HC Wainwright restated a "buy" rating and set a $50.00 price objective (down from $75.00) on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. StockNews.com upgraded shares of Corbus Pharmaceuticals to a "sell" rating in a research report on Thursday, March 6th. Finally, Wedbush restated an "outperform" rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP opened at $6.69 on Wednesday. The company has a market capitalization of $81.83 million, a PE ratio of -1.43 and a beta of 3.12. The company's fifty day moving average price is $6.45 and its 200 day moving average price is $11.82. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.24. On average, equities analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of 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 during the last quarter. Geode Capital Management LLC grew its stake in Corbus Pharmaceuticals by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company's stock worth $5,154,000 after buying an additional 18,702 shares during the last quarter. JPMorgan Chase & Co. increased its position in Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after buying an additional 1,172 shares during the period. Avanza Fonder AB purchased a new stake in Corbus Pharmaceuticals in the fourth quarter valued at approximately $84,000. Finally, HealthInvest Partners AB boosted its holdings in shares of Corbus Pharmaceuticals by 41.3% in the fourth quarter. HealthInvest Partners AB now owns 98,304 shares of the biopharmaceutical company's stock valued at $1,188,000 after acquiring an additional 28,731 shares during the period. 64.64% of the stock is owned by hedge funds and other institutional investors.

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.

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