Corbus Pharmaceuticals’ (CRBP) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report issued on Monday, Benzinga reports. HC Wainwright currently has a $80.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Corbus Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 10th. Wedbush decreased their target price on Corbus Pharmaceuticals from $85.00 to $51.00 and set an outperform rating for the company in a research note on Friday, September 20th. Oppenheimer raised their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Lifesci Capital upgraded Corbus Pharmaceuticals to a strong-buy rating in a research report on Wednesday, August 21st. Finally, B. Riley dropped their target price on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a buy rating on the stock in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $65.86.

Corbus Pharmaceuticals Trading Up 0.7 %

NASDAQ CRBP opened at $21.49 on Monday. Corbus Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $61.90. The stock has a 50-day simple moving average of $52.63 and a 200 day simple moving average of $46.59. The company has a market capitalization of $229.66 million, a PE ratio of -3.09 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced 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. As a group, sell-side analysts predict that Corbus Pharmaceuticals will post -3.77 earnings per share for the current fiscal year.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the transaction, the insider now directly owns 2,375,000 shares in the company, valued at approximately $47,523,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Corbus Pharmaceuticals in the first quarter valued at approximately $976,000. Vanguard Group Inc. grew its stake in shares of Corbus Pharmaceuticals by 143.7% in the first 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 in the last quarter. Altitude Crest Partners Inc. acquired a new position in Corbus Pharmaceuticals during the first quarter worth $4,069,000. Price T Rowe Associates Inc. MD bought a new stake in Corbus Pharmaceuticals during the first quarter worth $7,554,000. Finally, Janus Henderson Group PLC acquired a new stake in Corbus Pharmaceuticals in the first quarter valued at $13,363,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.