Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $65.86 Consensus PT from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given an average recommendation of “Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $65.86.

Several analysts have issued reports on CRBP shares. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Wedbush decreased their price objective on Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Oppenheimer boosted their price objective on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, B. Riley cut their target price on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 20th.

Insiders Place Their Bets

In other news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the purchase, the insider now owns 2,375,000 shares of the company’s stock, valued at $47,523,750. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter worth $1,368,000. Darwin Global Management Ltd. bought a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $14,267,000. Janus Henderson Group PLC acquired a new position in shares of Corbus Pharmaceuticals during the first quarter valued at about $13,363,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Corbus Pharmaceuticals in the first quarter valued at about $7,554,000. Finally, Acadian Asset Management LLC acquired a new stake in Corbus Pharmaceuticals during the second quarter worth about $716,000. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Stock Up 6.0 %

Shares of NASDAQ CRBP opened at $16.92 on Wednesday. Corbus Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $61.90. The company has a market cap of $203.78 million, a price-to-earnings ratio of -2.91 and a beta of 2.53. The business has a fifty day simple moving average of $32.28 and a 200-day simple moving average of $42.54.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. As a group, sell-side analysts expect that Corbus Pharmaceuticals will post -3.8 EPS for the current fiscal year.

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.