Brokerages Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Target Price at $62.00

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned a consensus recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $62.00.

Several equities analysts recently issued reports on CRBP shares. Mizuho restated an “outperform” rating and issued a $74.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. Wedbush restated an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. B. Riley dropped their price target on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a research report on Monday.

Corbus Pharmaceuticals Stock Performance

CRBP opened at $12.39 on Monday. The stock has a market capitalization of $150.91 million, a P/E ratio of -2.64 and a beta of 2.57. Corbus Pharmaceuticals has a one year low of $5.67 and a one year high of $61.90. The business’s 50-day simple moving average is $14.98 and its 200-day simple moving average is $32.34.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,172 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Corbus Pharmaceuticals by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after acquiring an additional 1,600 shares in the last quarter. FMR LLC boosted its stake in shares of Corbus Pharmaceuticals by 33.0% during the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,486 shares in the last quarter. Vestcor Inc purchased a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth approximately $64,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Corbus Pharmaceuticals by 29.9% during the 3rd quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 5,700 shares in the last quarter. Hedge funds and other institutional investors 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.