Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Recommendation of “Buy” by Brokerages

by · The Cerbat Gem

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $65.86.

Several research firms have recently commented on CRBP. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. B. Riley decreased their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Wedbush decreased their price target on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th.

Get Our Latest Research Report on Corbus Pharmaceuticals

Corbus Pharmaceuticals Stock Down 5.4 %

Shares of Corbus Pharmaceuticals stock opened at $18.52 on Friday. The firm’s 50-day moving average price is $46.03 and its two-hundred day moving average price is $45.26. The company has a market capitalization of $197.92 million, a price-to-earnings ratio of -2.66 and a beta of 2.53. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.29. On average, sell-side analysts expect that Corbus Pharmaceuticals will post -3.77 earnings per share for the current year.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Corbus Pharmaceuticals in the 3rd quarter worth approximately $151,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Corbus Pharmaceuticals by 100.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock valued at $956,000 after buying an additional 10,604 shares during the period. Darwin Global Management Ltd. acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $14,267,000. Integral Health Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $4,525,000. Finally, HighVista Strategies LLC bought a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $1,755,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

(Get Free Report

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.

Featured Stories