By otakuyassine3@gmail.com 
HC Wainwright reaffirmed their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP – Free Report) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $50.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $75.00.
A number of other research analysts have also recently commented on CRBP. Jefferies Financial Group lowered their price target on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler began coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. William Blair assumed coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an “outperform” rating on the stock. Finally, StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.13.
Check Out Our Latest Analysis on CRBP
Corbus Pharmaceuticals Stock Performance
NASDAQ CRBP opened at $6.79 on Wednesday. The company has a market capitalization of $82.70 million, a price-to-earnings ratio of -1.45 and a beta of 2.63. The stock has a 50-day moving average of $9.44 and a 200 day moving average of $18.99. Corbus Pharmaceuticals has a one year low of $6.38 and a one year high of $61.90.
Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. On average, equities analysts predict that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Corbus Pharmaceuticals
Several large investors have recently modified their holdings of CRBP. Millennium Management LLC increased its position in shares of Corbus Pharmaceuticals by 215.0% during the 4th quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock valued at $4,563,000 after purchasing an additional 263,902 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in shares of Corbus Pharmaceuticals by 28.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock worth $13,833,000 after buying an additional 259,735 shares during the period. Altium Capital Management LLC lifted its holdings in shares of Corbus Pharmaceuticals by 97.4% in the 4th 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 during the period. State Street Corp lifted its holdings in shares of Corbus Pharmaceuticals by 34.6% in the 3rd quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after buying an additional 153,243 shares during the period. Finally, Prosight Management LP lifted its holdings in shares of Corbus Pharmaceuticals by 107.7% in the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after buying an additional 140,000 shares during the period. 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.
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