Analysts Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Price Target at $59.13

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has received a consensus rating of “Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $59.13.

A number of equities analysts have commented on the stock. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective for the company. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. HC Wainwright restated a “buy” rating and set a $50.00 price objective (down from $75.00) on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Wedbush reiterated an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Finally, William Blair began coverage on Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an “outperform” rating on the stock.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Orbimed Advisors LLC raised its position in Corbus Pharmaceuticals by 28.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock valued at $13,833,000 after purchasing an additional 259,735 shares in the last quarter. State Street Corp increased its stake in shares of Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock valued at $12,287,000 after buying an additional 153,243 shares during the period. Millennium Management LLC raised its holdings in shares of Corbus Pharmaceuticals by 215.0% in the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock valued at $4,563,000 after acquiring an additional 263,902 shares in the last quarter. Altium Capital Management LLC lifted its stake in Corbus Pharmaceuticals by 97.4% in the fourth quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company’s stock worth $4,543,000 after acquiring an additional 190,000 shares during the period. Finally, Prosight Management LP grew its holdings in Corbus Pharmaceuticals by 107.7% during the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after acquiring an additional 140,000 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $5.31 on Friday. Corbus Pharmaceuticals has a 1-year low of $5.11 and a 1-year high of $61.90. The business has a 50 day simple moving average of $8.06 and a two-hundred day simple moving average of $14.66. The stock has a market capitalization of $64.95 million, a PE ratio of -1.13 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results 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. On average, analysts anticipate that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

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.