Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Rating of “Buy” by Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $77.67.

A number of analysts have weighed in on CRBP shares. Wedbush assumed coverage on shares of Corbus Pharmaceuticals in a research note on Tuesday, July 30th. They set an “outperform” rating and a $85.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Wednesday, August 7th. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, August 6th. Finally, B. Riley started coverage on Corbus Pharmaceuticals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $85.00 price objective for the company.

Corbus Pharmaceuticals Stock Down 1.6 %

NASDAQ:CRBP opened at $57.28 on Friday. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $61.90. The stock’s 50-day simple moving average is $52.32 and its 200 day simple moving average is $42.68. The firm has a market capitalization of $612.15 million, a PE ratio of -8.23 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. On average, analysts anticipate that Corbus Pharmaceuticals will post -4.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Sean F. Moran sold 1,958 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $50.17, for a total value of $1,470,833.89. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares in the company, valued at $4,234,348. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sean F. Moran sold 1,958 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the transaction, the chief financial officer now directly owns 48,605 shares in the company, valued at $2,047,242.60. The disclosure for this sale can be found here. Insiders have sold a total of 51,733 shares of company stock valued at $2,530,799 over the last ninety days. 4.00% of the stock is owned by company insiders.

Institutional Trading of Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Ikarian Capital LLC boosted its stake in Corbus Pharmaceuticals by 185.5% during the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after acquiring an additional 363,372 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Corbus Pharmaceuticals in the first quarter valued at $13,363,000. Darwin Global Management Ltd. acquired a new position in shares of Corbus Pharmaceuticals during the second quarter valued at about $14,267,000. Assenagon Asset Management S.A. bought a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth about $10,181,000. Finally, Vanguard Group Inc. grew its stake in shares of 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 buying an additional 257,808 shares during the period. 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.