Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Recommendation of “Buy” from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned a consensus recommendation of “Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $62.00.

Several analysts have recently weighed in on the stock. B. Riley reduced their price objective 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. Wedbush reiterated an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Finally, Piper Sandler began coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target on the stock.

Corbus Pharmaceuticals Stock Down 5.2 %

CRBP stock opened at $11.79 on Monday. The business has a 50 day moving average price of $15.40 and a 200 day moving average price of $32.95. The stock has a market cap of $143.59 million, a price-to-earnings ratio of -2.51 and a beta of 2.63. Corbus Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $61.90.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CRBP. Vestcor Inc purchased a new position in Corbus Pharmaceuticals in the 3rd quarter valued at $64,000. JPMorgan Chase & Co. lifted its stake in shares of Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,172 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter valued at about $123,000. SG Americas Securities LLC acquired a new position in shares of Corbus Pharmaceuticals during the third quarter worth about $151,000. Finally, FMR LLC raised its holdings in Corbus Pharmaceuticals by 33.0% during the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 2,486 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.