Brokerages Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Target Price at $65.86

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned an average rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $65.86.

CRBP has been the topic of a number of research analyst reports. Wedbush cut their target price on Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Oppenheimer raised their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Mizuho reissued an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Finally, Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 21st.

Corbus Pharmaceuticals Stock Up 6.0 %

NASDAQ:CRBP opened at $16.92 on Wednesday. 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 $32.28 and its two-hundred day moving average is $42.59. The company has a market capitalization of $203.72 million, a P/E ratio of -2.91 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Sell-side analysts anticipate that Corbus Pharmaceuticals will post -3.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the purchase, the insider now owns 2,375,000 shares in the company, valued at approximately $47,523,750. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in CRBP. SG Americas Securities LLC purchased a new position in Corbus Pharmaceuticals in the third quarter valued at approximately $151,000. abrdn plc grew its position in shares of Corbus Pharmaceuticals by 422.9% in the 3rd quarter. abrdn plc now owns 26,894 shares of the biopharmaceutical company’s stock valued at $555,000 after buying an additional 21,751 shares during the last quarter. Rhumbline Advisers acquired a new stake in Corbus Pharmaceuticals during the 2nd quarter worth $638,000. Acadian Asset Management LLC purchased a new stake in Corbus Pharmaceuticals in the second quarter valued at $716,000. Finally, ClariVest Asset Management LLC acquired a new position in Corbus Pharmaceuticals in the second quarter valued at $725,000. 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.