Corbus Pharmaceuticals’ (CRBP) “Buy” Rating Reaffirmed at HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $75.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $80.00.

A number of other equities research analysts have also issued reports on CRBP. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. Wedbush reissued an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Finally, Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.38.

Corbus Pharmaceuticals Price Performance

CRBP stock opened at $10.15 on Monday. Corbus Pharmaceuticals has a 1 year low of $9.11 and a 1 year high of $61.90. The firm has a market capitalization of $123.63 million, a PE ratio of -2.16 and a beta of 2.63. The business has a 50 day simple moving average of $12.65 and a 200-day simple moving average of $27.19.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.16). On average, equities research analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Vestcor Inc acquired a new position in Corbus Pharmaceuticals during the third quarter worth $64,000. JPMorgan Chase & Co. raised its holdings in shares of Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 1,172 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at $123,000. Avanza Fonder AB acquired a new position in Corbus Pharmaceuticals during the 4th quarter worth about $84,000. Finally, SG Americas Securities LLC purchased a new position in Corbus Pharmaceuticals during the 3rd quarter valued at about $151,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

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.