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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $62.00.

Several research analysts have recently commented on CRBP shares. 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. Wedbush restated an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, November 4th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a report on Monday. Finally, Piper Sandler began coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Avanza Fonder AB acquired a new stake in Corbus Pharmaceuticals in the fourth quarter valued at $84,000. JPMorgan Chase & Co. increased its position in shares of Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,172 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Corbus Pharmaceuticals by 8.1% during the third quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company’s stock worth $5,154,000 after purchasing an additional 18,702 shares in the last quarter. Vestcor Inc acquired a new stake in shares of Corbus Pharmaceuticals during the third quarter worth about $64,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Corbus Pharmaceuticals during the third quarter worth about $379,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Stock Performance

NASDAQ:CRBP opened at $12.39 on Monday. Corbus Pharmaceuticals has a one year low of $5.67 and a one year high of $61.90. The stock has a market cap of $150.91 million, a PE ratio of -2.64 and a beta of 2.57. The stock has a 50 day moving average price of $14.98 and a 200 day moving average price of $32.34.

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.