Corbus Pharmaceuticals (NASDAQ:CRBP) Earns Buy Rating from Analysts at B. Riley

B. Riley assumed coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $85.00 target price on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group upgraded Corbus Pharmaceuticals from a hold rating to a buy rating and boosted their price target for the stock from $4.00 to $46.00 in a research note on Wednesday, March 6th. Royal Bank of Canada boosted their target price on Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an outperform rating in a research report on Tuesday, June 11th. Oppenheimer raised their price target on shares of Corbus Pharmaceuticals from $60.00 to $80.00 and gave the company an outperform rating in a report on Monday, June 3rd. Finally, StockNews.com cut shares of Corbus Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals presently has an average rating of Moderate Buy and an average target price of $73.25.

Corbus Pharmaceuticals Price Performance

Shares of Corbus Pharmaceuticals stock opened at $43.49 on Wednesday. The stock has a market cap of $464.78 million, a price-to-earnings ratio of -6.25 and a beta of 2.52. Corbus Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $55.41. The firm’s 50-day moving average is $42.78 and its 200 day moving average is $30.16.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.26. On average, equities analysts expect that Corbus Pharmaceuticals will post -5.86 EPS for the current fiscal year.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, CEO Yuval Cohen sold 11,103 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $46.02, for a total value of $510,960.06. Following the transaction, the chief executive officer now owns 84,400 shares in the company, valued at approximately $3,884,088. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Sean F. Moran sold 1,958 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the transaction, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Yuval Cohen sold 11,103 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $46.02, for a total value of $510,960.06. Following the sale, the chief executive officer now owns 84,400 shares of the company’s stock, valued at approximately $3,884,088. The disclosure for this sale can be found here. Insiders sold a total of 51,733 shares of company stock worth $2,530,799 in the last three months. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in Corbus Pharmaceuticals in the 1st quarter valued at $976,000. Altitude Crest Partners Inc. purchased a new stake in shares of Corbus Pharmaceuticals in the first quarter worth about $4,069,000. Price T Rowe Associates Inc. MD bought a new stake in Corbus Pharmaceuticals in the 1st quarter worth approximately $7,554,000. Assenagon Asset Management S.A. bought a new position in shares of Corbus Pharmaceuticals during the 1st quarter valued at approximately $10,181,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Corbus Pharmaceuticals in the first quarter valued at $13,363,000. 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.