Stock analysts at B. Riley assumed coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $22.00 price target on the biopharmaceutical company’s stock. B. Riley’s price target would indicate a potential upside of 226.89% from the company’s current price.
A number of other equities analysts have also issued reports on CRBP. BidaskClub lowered shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 30th. Cantor Fitzgerald set a $32.00 price objective on shares of Corbus Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, ValuEngine upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.50.
NASDAQ CRBP traded down $0.13 during trading on Wednesday, hitting $6.73. The company’s stock had a trading volume of 20,145 shares, compared to its average volume of 894,382. The company has a market cap of $410.74 million, a P/E ratio of -10.57 and a beta of 2.18. Corbus Pharmaceuticals has a 52 week low of $4.50 and a 52 week high of $9.95.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. Fox Run Management L.L.C. bought a new stake in shares of Corbus Pharmaceuticals during the second quarter valued at approximately $144,000. Barclays PLC increased its position in shares of Corbus Pharmaceuticals by 237.5% during the first quarter. Barclays PLC now owns 28,302 shares of the biopharmaceutical company’s stock valued at $172,000 after purchasing an additional 19,917 shares during the period. Royal Bank of Canada increased its holdings in Corbus Pharmaceuticals by 2,742.5% in the 1st quarter. Royal Bank of Canada now owns 51,961 shares of the biopharmaceutical company’s stock valued at $317,000 after buying an additional 50,133 shares during the period. Alps Advisors Inc. bought a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at $419,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Corbus Pharmaceuticals by 13.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 109,573 shares of the biopharmaceutical company’s stock valued at $554,000 after buying an additional 12,700 shares during the period. Institutional investors and hedge funds own 42.60% of the company’s stock.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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