Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Rating of “Buy” from Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have received an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $62.00.

CRBP has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Wedbush reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Finally, StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a research report on Monday, January 13th.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ CRBP opened at $11.92 on Monday. Corbus Pharmaceuticals has a one year low of $6.20 and a one year high of $61.90. The firm has a market capitalization of $145.19 million, a P/E ratio of -2.54 and a beta of 2.63. The company’s fifty day moving average is $14.73 and its two-hundred day moving average is $31.71.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vestcor Inc purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter valued at $64,000. Avanza Fonder AB purchased a new position in shares of Corbus Pharmaceuticals during the 4th quarter worth about $84,000. JPMorgan Chase & Co. boosted its position in shares of Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,172 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Corbus Pharmaceuticals in the third quarter valued at approximately $123,000. Finally, SG Americas Securities LLC acquired a new position in Corbus Pharmaceuticals during the third quarter worth approximately $151,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.