Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $65.86 Consensus Price Target from Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) has received a consensus rating of "Buy" from the eight brokerages that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $65.86.

Several equities research analysts have recently issued reports on CRBP shares. Royal Bank of Canada reiterated an "outperform" rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Oppenheimer raised their price target on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. B. Riley lowered their target price on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Mizuho reaffirmed an "outperform" rating and issued a $74.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Finally, StockNews.com downgraded Corbus Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 10th.

Corbus Pharmaceuticals Stock Up 2.0 %

Shares of CRBP stock traded up $0.33 during trading hours on Wednesday, reaching $16.53. 225,555 shares of the stock traded hands, compared to its average volume of 581,478. The firm has a market capitalization of $176.66 million, a PE ratio of -2.33 and a beta of 2.53. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $61.90. The business has a fifty day moving average price of $34.90 and a 200 day moving average price of $43.09.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts' consensus estimates of ($1.19) by $0.29. Research analysts expect that Corbus Pharmaceuticals will post -3.8 earnings per share for the current fiscal year.

Insider Transactions at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of Corbus Pharmaceuticals stock in a transaction on Friday, September 20th. The stock was bought at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the transaction, the insider now owns 2,375,000 shares of the company's stock, valued at $47,523,750. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.00% of the company's stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ikarian Capital LLC raised its position in Corbus Pharmaceuticals by 185.5% in the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company's stock worth $21,946,000 after purchasing an additional 363,372 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter valued at approximately $13,363,000. Darwin Global Management Ltd. acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter worth approximately $14,267,000. Vanguard Group Inc. raised its position in Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company's stock valued at $17,158,000 after purchasing an additional 257,808 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Corbus Pharmaceuticals in the first quarter worth $7,554,000. 64.64% of the stock is owned by institutional investors.

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.