Corbus Pharmaceuticals (NASDAQ:CRBP) Earns “Buy” Rating from HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $80.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 310.05% from the company’s current price.

Several other research firms have also recently issued reports on CRBP. Wedbush lowered their price objective on Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday. StockNews.com lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. B. Riley lowered their target price on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a report on Friday. Finally, Oppenheimer raised their price objective on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Corbus Pharmaceuticals Stock Down 62.3 %

NASDAQ:CRBP opened at $19.51 on Monday. The firm has a 50 day moving average of $55.03 and a 200 day moving average of $47.11. Corbus Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $61.90. The stock has a market capitalization of $208.50 million, a price-to-earnings ratio of -2.80 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29. As a group, analysts expect that Corbus Pharmaceuticals will post -3.77 EPS for the current year.

Institutional Trading of Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ikarian Capital LLC raised its stake in Corbus Pharmaceuticals by 185.5% during the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after acquiring an additional 363,372 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Corbus Pharmaceuticals during the first quarter worth approximately $13,363,000. Darwin Global Management Ltd. purchased a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at $14,267,000. Vanguard Group Inc. boosted its stake in Corbus Pharmaceuticals by 143.7% during the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after purchasing an additional 257,808 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Corbus Pharmaceuticals in the first quarter valued at $7,554,000. Institutional investors and hedge funds 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.