Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Reaffirmed by HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $80.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 336.21% from the stock’s current price.

CRBP has been the subject of several other research reports. StockNews.com cut Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. Mizuho restated an “outperform” rating and set a $74.00 price target on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. B. Riley decreased their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Oppenheimer increased their price objective on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Corbus Pharmaceuticals Stock Down 3.4 %

Shares of Corbus Pharmaceuticals stock opened at $18.34 on Monday. The firm has a market capitalization of $196.00 million, a PE ratio of -2.64 and a beta of 2.56. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90. The stock’s fifty day moving average is $53.39 and its 200-day moving average is $46.77.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Analysts expect that Corbus Pharmaceuticals will post -3.77 EPS for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 350,000 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors have recently made changes to their positions in CRBP. Rhumbline Advisers acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $638,000. Acadian Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the second quarter worth $716,000. ClariVest Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the second quarter worth $725,000. Victory Capital Management Inc. bought a new stake in shares of Corbus Pharmaceuticals in the second quarter worth $862,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Corbus Pharmaceuticals by 100.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock worth $956,000 after purchasing an additional 10,604 shares during the last quarter. 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.