Corbus Pharmaceuticals' (CRBP) Outperform Rating Reaffirmed at Wedbush

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report)'s stock had its "outperform" rating reiterated by Wedbush in a report issued on Monday, RTT News reports. They presently have a $51.00 price target on the biopharmaceutical company's stock. Wedbush's price target would suggest a potential upside of 178.54% from the stock's previous close.

CRBP has been the topic of a number of other research reports. StockNews.com downgraded Corbus Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 10th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. Royal Bank of Canada restated an "outperform" rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Mizuho reaffirmed an "outperform" rating and set a $74.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Finally, Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.86.

Corbus Pharmaceuticals Trading Up 8.2 %

CRBP stock traded up $1.39 during mid-day trading on Monday, reaching $18.31. 549,273 shares of the stock traded hands, compared to its average volume of 578,580. Corbus Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $61.90. The stock's fifty day moving average is $31.46 and its 200-day moving average is $42.46. The company has a market cap of $220.45 million, a P/E ratio of -3.15 and a beta of 2.56.

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

Insider Activity

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares of the company's stock, valued at approximately $47,523,750. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. abrdn plc grew its holdings in Corbus Pharmaceuticals by 422.9% during the third quarter. abrdn plc now owns 26,894 shares of the biopharmaceutical company's stock valued at $555,000 after purchasing an additional 21,751 shares during the last quarter. SG Americas Securities LLC acquired a new position in Corbus Pharmaceuticals in the 3rd quarter valued at $151,000. The Manufacturers Life Insurance Company raised its holdings in Corbus Pharmaceuticals by 100.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company's stock worth $956,000 after acquiring an additional 10,604 shares during the period. Darwin Global Management Ltd. acquired a new position in Corbus Pharmaceuticals during the 2nd quarter worth $14,267,000. Finally, Integral Health Asset Management LLC bought a new stake in Corbus Pharmaceuticals during the second quarter valued at about $4,525,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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