Analysts Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Target Price at $62.00

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned an average rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $62.00.

CRBP has been the topic of a number of recent analyst reports. B. Riley lowered their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company. Mizuho restated an “outperform” rating and set a $74.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a report on Friday, September 20th.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $13.00 on Thursday. The stock’s 50 day moving average is $16.85 and its 200 day moving average is $36.54. The firm has a market cap of $158.33 million, a P/E ratio of -2.77 and a beta of 2.57. Corbus Pharmaceuticals has a one year low of $5.09 and a one year high of $61.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new position in shares of Corbus Pharmaceuticals during the second quarter valued at approximately $1,368,000. Rhumbline Advisers purchased a new position in Corbus Pharmaceuticals during the 2nd quarter valued at $638,000. TD Asset Management Inc raised its holdings in Corbus Pharmaceuticals by 92.5% in the 2nd quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock worth $1,846,000 after purchasing an additional 19,600 shares in the last quarter. Victory Capital Management Inc. bought a new position in Corbus Pharmaceuticals in the 2nd quarter worth $862,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth about $716,000. Institutional investors 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.