Corbus Pharmaceuticals (NASDAQ:CRBP) Given Outperform Rating at Wedbush

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Wedbush in a report issued on Wednesday,RTT News reports. They currently have a $51.00 target price on the biopharmaceutical company's stock.

CRBP has been the subject of several other research reports. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price target (down previously from $75.00) on shares of Corbus Pharmaceuticals in a research note on Wednesday. StockNews.com raised shares of Corbus Pharmaceuticals to a "sell" rating in a report on Thursday, March 6th. Jefferies Financial Group lowered their price target on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Piper Sandler initiated coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an "overweight" rating and a $35.00 price objective for the company. Finally, William Blair initiated coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They set an "outperform" rating on the stock. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.13.

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Corbus Pharmaceuticals Stock Performance

CRBP stock traded up $0.37 during trading on Wednesday, reaching $6.79. 135,971 shares of the company were exchanged, compared to its average volume of 239,503. Corbus Pharmaceuticals has a 52-week low of $6.38 and a 52-week high of $61.90. The company has a market cap of $82.70 million, a P/E ratio of -1.45 and a beta of 2.63. The stock's 50 day moving average price is $9.44 and its 200 day moving average price is $18.46.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, topping analysts' consensus estimates of ($1.02) by $0.24. As a group, equities research analysts forecast that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

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

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.