Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $62.00 Consensus Target Price from Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has received an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $62.00.

Several equities research analysts recently weighed in on CRBP shares. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. B. Riley decreased their target price on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Mizuho restated an “outperform” rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRBP. Vestcor Inc bought a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter valued at $64,000. MetLife Investment Management LLC bought a new stake in Corbus Pharmaceuticals during the third quarter valued at about $123,000. SG Americas Securities LLC purchased a new stake in Corbus Pharmaceuticals in the third quarter worth about $151,000. FMR LLC raised its stake in shares of Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 2,486 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Corbus Pharmaceuticals in the third quarter worth about $379,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $13.00 on Thursday. The company has a market capitalization of $158.33 million, a PE ratio of -2.77 and a beta of 2.57. Corbus Pharmaceuticals has a 1-year low of $5.09 and a 1-year high of $61.90. The business has a fifty day moving average price of $16.85 and a 200-day moving average price of $36.54.

Corbus Pharmaceuticals Company Profile

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.