Corbus Pharmaceuticals’ (CRBP) Outperform Rating Reaffirmed at Wedbush

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a note issued to investors on Monday, RTT News reports. They currently have a $51.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price target points to a potential upside of 178.54% from the company’s current price.

CRBP has been the subject of a number of other research reports. Mizuho restated an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. StockNews.com cut shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. B. Riley lowered their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Oppenheimer raised their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.86.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP traded up $1.39 during trading hours on Monday, reaching $18.31. 549,273 shares of the company traded hands, compared to its average volume of 578,580. The stock’s fifty day moving average is $31.46 and its 200 day moving average is $42.46. Corbus Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $61.90. The stock has a market cap of $220.45 million, a P/E ratio of -3.15 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29. On average, equities research analysts predict that Corbus Pharmaceuticals will post -3.8 EPS for the current year.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, September 20th. The shares were bought at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the purchase, the insider now owns 2,375,000 shares of the company’s stock, valued at $47,523,750. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of CRBP. SG Americas Securities LLC bought a new position in Corbus Pharmaceuticals in the third quarter valued at approximately $151,000. The Manufacturers Life Insurance Company lifted its holdings in Corbus Pharmaceuticals by 100.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock valued at $956,000 after purchasing an additional 10,604 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $638,000. Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $716,000. Finally, ClariVest Asset Management LLC bought a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at $725,000. 64.64% of the stock is owned by institutional investors.

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.