Brokerages Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) PT at $65.86

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBPGet Free Report) has received an average recommendation of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $65.86.

Several research analysts have issued reports on CRBP shares. Mizuho reiterated an “outperform” rating and set a $74.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. B. Riley dropped their target price on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 20th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Oppenheimer boosted their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.

Read Our Latest Stock Analysis on CRBP

Corbus Pharmaceuticals Stock Up 6.0 %

NASDAQ CRBP opened at $16.92 on Wednesday. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $61.90. The stock has a market cap of $203.78 million, a P/E ratio of -2.91 and a beta of 2.53. The company’s 50-day simple moving average is $32.28 and its 200 day simple moving average is $42.54.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.29. Research analysts anticipate that Corbus Pharmaceuticals will post -3.8 earnings per share for the current year.

Insider Activity at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the transaction, the insider now owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Corbus Pharmaceuticals during the first quarter worth approximately $976,000. Vanguard Group Inc. raised its position in shares of Corbus Pharmaceuticals by 143.7% during the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after acquiring an additional 257,808 shares during the last quarter. Altitude Crest Partners Inc. acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at $4,069,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corbus Pharmaceuticals in the 1st quarter worth $7,554,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Corbus Pharmaceuticals during the first quarter worth $13,363,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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