Jefferies Financial Group Has Lowered Expectations for Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price target reduced by Jefferies Financial Group from $70.00 to $53.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on CRBP. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. Piper Sandler began coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, William Blair began coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $59.13.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $6.91 on Tuesday. The business has a 50-day moving average of $9.67 and a 200-day moving average of $19.44. The stock has a market capitalization of $84.16 million, a price-to-earnings ratio of -1.47 and a beta of 2.63. Corbus Pharmaceuticals has a fifty-two week low of $6.54 and a fifty-two week high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. On average, sell-side analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Trading of Corbus Pharmaceuticals

Several hedge funds have recently bought and sold shares of CRBP. Vestcor Inc bought a new position in Corbus Pharmaceuticals in the 3rd quarter valued at about $64,000. Wells Fargo & Company MN raised its stake in shares of Corbus Pharmaceuticals by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 2,195 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $84,000. Deutsche Bank AG lifted its holdings in shares of Corbus Pharmaceuticals by 46.8% in the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at approximately $101,000. Institutional investors and hedge funds 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.