Corbus Pharmaceuticals’ (CRBP) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $50.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $75.00.

Several other research firms have also commented on CRBP. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th. William Blair assumed coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They set an “outperform” rating on the stock. Jefferies Financial Group dropped their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Piper Sandler assumed coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $6.79 on Wednesday. The stock’s 50-day simple moving average is $9.44 and its 200-day simple moving average is $18.99. The firm has a market capitalization of $82.70 million, a PE ratio of -1.45 and a beta of 2.63. Corbus Pharmaceuticals has a fifty-two week low of $6.38 and a fifty-two week high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. Sell-side analysts forecast that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in CRBP. Vestcor Inc purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter valued at approximately $64,000. Wells Fargo & Company MN boosted its stake in shares of Corbus Pharmaceuticals by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 2,195 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $84,000. Deutsche Bank AG boosted its stake in shares of Corbus Pharmaceuticals by 46.8% in the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 2,616 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $101,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

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.