Jefferies Financial Group Has Lowered Expectations for Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective lowered by equities researchers at Jefferies Financial Group from $70.00 to $53.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the company. William Blair initiated coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They set an “outperform” rating for the company. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. Finally, Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Corbus Pharmaceuticals Trading Up 0.4 %

CRBP stock opened at $6.91 on Tuesday. The stock’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $19.44. Corbus Pharmaceuticals has a 12-month low of $6.54 and a 12-month high of $61.90. The firm has a market cap of $84.16 million, a P/E ratio of -1.47 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. On average, research analysts forecast that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted 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. The Manufacturers Life Insurance Company lifted its holdings in Corbus Pharmaceuticals by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after acquiring an additional 1,600 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Corbus Pharmaceuticals by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 2,195 shares in the last quarter. FMR LLC grew its stake in Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 2,486 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Corbus Pharmaceuticals by 46.8% in the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 2,616 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

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.