Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) to a sell rating in a research note released on Monday.

Other equities analysts have also issued research reports about the company. B. Riley cut their target price on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note 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 price target on the stock. Wedbush reissued an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Finally, Mizuho reissued an “outperform” rating and set a $74.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $11.30 on Monday. Corbus Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $61.90. The firm has a market capitalization of $137.62 million, a P/E ratio of -2.41 and a beta of 2.63. The company’s 50 day simple moving average is $15.26 and its 200 day simple moving average is $32.72.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in CRBP. Darwin Global Management Ltd. acquired a new position in Corbus Pharmaceuticals in the 2nd quarter worth $14,267,000. State Street Corp boosted its position 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 worth $12,287,000 after buying an additional 153,243 shares during the period. Integral Health Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $4,525,000. Charles Schwab Investment Management Inc. raised its position in Corbus Pharmaceuticals by 224.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock valued at $1,932,000 after buying an additional 64,800 shares during the last quarter. Finally, HighVista Strategies LLC acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at approximately $1,755,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.