Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $62.00 Consensus Target Price from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.38.

Several equities research analysts recently commented on CRBP shares. Wedbush reiterated an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Piper Sandler started coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $75.00 target price (down from $80.00) on shares of Corbus Pharmaceuticals in a report on Monday. Finally, StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vestcor Inc bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at approximately $64,000. Wells Fargo & Company MN increased its holdings in shares of Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 2,195 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at approximately $84,000. JPMorgan Chase & Co. increased 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 acquiring an additional 1,172 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at approximately $123,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $9.48 on Friday. The company has a market cap of $115.47 million, a P/E ratio of -2.02 and a beta of 2.63. Corbus Pharmaceuticals has a one year low of $8.50 and a one year high of $61.90. The business’s 50-day simple moving average is $12.19 and its 200 day simple moving average is $26.21.

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.