Corbus Pharmaceuticals (NASDAQ:CRBP) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $75.00 price target on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on CRBP. Wedbush reiterated an “outperform” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Monday, January 13th. Finally, Piper Sandler began coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.38.

Corbus Pharmaceuticals Price Performance

CRBP stock opened at $8.21 on Tuesday. Corbus Pharmaceuticals has a 52-week low of $8.01 and a 52-week high of $61.90. The company has a 50-day moving average of $11.80 and a two-hundred day moving average of $24.93. The stock has a market capitalization of $100.00 million, a price-to-earnings ratio of -1.75 and a beta of 2.63.

Institutional Inflows and Outflows

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