Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Rating of “Buy” by Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $65.86.

A number of equities analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st. B. Riley dropped their price objective on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 20th. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Finally, Oppenheimer upped their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Corbus Pharmaceuticals Trading Down 3.5 %

Shares of CRBP opened at $19.21 on Friday. The firm’s fifty day simple moving average is $47.56 and its two-hundred day simple moving average is $45.44. Corbus Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $61.90. The stock has a market capitalization of $205.30 million, a P/E ratio of -2.76 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.29. As a group, research analysts predict that Corbus Pharmaceuticals will post -3.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was acquired at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the purchase, the insider now owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several large investors have recently bought and sold shares of CRBP. Bank of New York Mellon Corp purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at about $1,368,000. Janus Henderson Group PLC purchased a new stake in Corbus Pharmaceuticals in the 1st quarter valued at about $13,363,000. Darwin Global Management Ltd. purchased a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at about $14,267,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $7,554,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 2nd quarter worth approximately $716,000. 64.64% of the stock is currently owned by institutional investors.

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.