Corbus Pharmaceuticals (NASDAQ:CRBP) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report released on Monday morning, Marketbeat reports. The firm issued an overweight rating and a $35.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on CRBP. Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Oppenheimer increased their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Mizuho restated an “outperform” rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $16.05 on Monday. The stock has a fifty day moving average price of $18.04 and a two-hundred day moving average price of $39.04. Corbus Pharmaceuticals has a 52-week low of $4.94 and a 52-week high of $61.90. The firm has a market capitalization of $195.47 million, a P/E ratio of -3.42 and a beta of 2.57.

Insider Activity at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the acquisition, the insider now directly owns 2,375,000 shares in the company, valued at approximately $47,523,750. The trade was a 17.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CRBP. Vanguard Group Inc. lifted its stake in 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 during the period. Price T Rowe Associates Inc. MD acquired a new position in Corbus Pharmaceuticals in the first quarter valued at about $7,554,000. Bank of New York Mellon Corp acquired a new position in Corbus Pharmaceuticals in the second quarter valued at about $1,368,000. Rhumbline Advisers acquired a new position in Corbus Pharmaceuticals in the second quarter valued at about $638,000. Finally, TD Asset Management Inc lifted its stake in Corbus Pharmaceuticals by 92.5% in the second quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock valued at $1,846,000 after buying an additional 19,600 shares during the period. 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.