Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $59.13 Consensus PT from Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been given an average recommendation of “Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $59.13.

A number of equities analysts have issued reports on CRBP shares. HC Wainwright restated a “buy” rating and set a $50.00 price target (down from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. Wedbush restated an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Jefferies Financial Group lowered their price objective on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Finally, William Blair began coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an “outperform” rating for the company.

Corbus Pharmaceuticals Stock Up 3.4 %

CRBP stock opened at $5.20 on Friday. The firm has a market cap of $63.61 million, a price-to-earnings ratio of -1.11 and a beta of 3.12. The company’s fifty day simple moving average is $7.80 and its 200 day simple moving average is $14.24. Corbus Pharmaceuticals has a 12-month low of $4.92 and a 12-month high of $61.90.

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

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds have recently modified their holdings of CRBP. Charles Schwab Investment Management Inc. boosted its holdings in Corbus Pharmaceuticals by 224.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after acquiring an additional 64,800 shares in the last quarter. State Street Corp grew its position in Corbus Pharmaceuticals by 34.6% during the 3rd quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock valued at $12,287,000 after purchasing an additional 153,243 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,172 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 18,702 shares in the last quarter. Finally, HighVista Strategies LLC grew its holdings in shares of Corbus Pharmaceuticals by 94.1% during the third quarter. HighVista Strategies LLC now owns 75,292 shares of the biopharmaceutical company’s stock valued at $1,553,000 after buying an additional 36,499 shares during the last quarter. 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.