Corbus Pharmaceuticals (NASDAQ:CRBP) Earns “Buy” Rating from HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $75.00.

Several other research analysts have also issued reports on CRBP. Jefferies Financial Group decreased their price target on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. Piper Sandler began coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price for the company. Finally, William Blair assumed coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have given 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 an average rating of “Moderate Buy” and a consensus price target of $59.13.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $6.42 on Wednesday. Corbus Pharmaceuticals has a fifty-two week low of $6.38 and a fifty-two week high of $61.90. The company has a market capitalization of $78.19 million, a price-to-earnings ratio of -1.37 and a beta of 2.63. The business’s 50 day moving average price is $9.56 and its two-hundred day moving average price is $19.35.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.24. Sell-side analysts forecast that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Vestcor Inc bought a new position in Corbus Pharmaceuticals in the 3rd quarter valued at approximately $64,000. Wells Fargo & Company MN raised its stake in shares of Corbus Pharmaceuticals by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 2,195 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at $84,000. Deutsche Bank AG boosted its position in shares of Corbus Pharmaceuticals by 46.8% during the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 2,616 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the fourth quarter valued at $101,000. 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.