Analysts Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Target Price at $59.13

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned an average recommendation of “Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $59.13.

CRBP has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. Jefferies Financial Group lowered their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and set a $50.00 price target (down from $75.00) on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock opened at $5.31 on Friday. The stock has a market cap of $64.95 million, a price-to-earnings ratio of -1.13 and a beta of 2.63. The stock’s 50 day simple moving average is $8.06 and its two-hundred day simple moving average is $14.66. Corbus Pharmaceuticals has a fifty-two week low of $5.11 and a fifty-two week high of $61.90.

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

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Corbus Pharmaceuticals by 27.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 1,172 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Corbus Pharmaceuticals by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after buying an additional 1,600 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Corbus Pharmaceuticals by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 2,195 shares during the last quarter. FMR LLC lifted its holdings in shares of Corbus Pharmaceuticals by 33.0% in the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 2,486 shares in the last quarter. Finally, 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 worth $97,000 after acquiring an additional 2,616 shares during the last quarter. Hedge funds and other institutional investors 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.