Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $62.00 Average PT from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned an average rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $62.00.

A number of analysts have recently weighed in on CRBP shares. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company. Wedbush reissued an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Mizuho reiterated an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised 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 worth $5,154,000 after purchasing an additional 18,702 shares during the period. Vestcor Inc bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at $64,000. Y Intercept Hong Kong Ltd acquired a new stake in Corbus Pharmaceuticals during the 3rd quarter worth $379,000. Wellington Management Group LLP bought a new position in Corbus Pharmaceuticals during the third quarter worth about $491,000. Finally, Wexford Capital LP grew its stake in Corbus Pharmaceuticals by 55.3% in the third quarter. Wexford Capital LP now owns 68,556 shares of the biopharmaceutical company’s stock valued at $1,414,000 after acquiring an additional 24,400 shares during the period. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Price Performance

CRBP stock opened at $13.16 on Thursday. The stock has a market capitalization of $160.28 million, a price-to-earnings ratio of -2.81 and a beta of 2.58. The business has a fifty day moving average price of $16.74 and a 200 day moving average price of $36.23. Corbus Pharmaceuticals has a fifty-two week low of $5.30 and a fifty-two week high of $61.90.

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.