HC Wainwright Reaffirms Buy Rating for Corbus Pharmaceuticals (NASDAQ:CRBP)

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $80.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 43.47% from the stock’s current price.

CRBP has been the subject of several other research reports. StockNews.com raised Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. B. Riley assumed coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They set a “buy” rating and a $85.00 price objective for the company. Oppenheimer restated an “outperform” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, July 10th. Royal Bank of Canada upped their price target on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Finally, Wedbush started coverage on Corbus Pharmaceuticals in a research note on Tuesday, July 30th. They issued an “outperform” rating and a $85.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.33.

Corbus Pharmaceuticals Trading Up 1.3 %

NASDAQ CRBP traded up $0.73 on Tuesday, hitting $55.76. 218,711 shares of the company’s stock were exchanged, compared to its average volume of 544,990. Corbus Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $61.90. The stock has a 50-day moving average of $50.40 and a 200-day moving average of $39.86. The stock has a market cap of $596.07 million, a price-to-earnings ratio of -7.93 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.26. As a group, analysts predict that Corbus Pharmaceuticals will post -4.68 earnings per share for the current year.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,047,242.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 9,355 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $49.87, for a total transaction of $466,533.85. Following the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,423,931.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total value of $82,470.96. Following the transaction, the chief financial officer now directly owns 48,605 shares in the company, valued at $2,047,242.60. The disclosure for this sale can be found here. Insiders have sold 51,733 shares of company stock worth $2,530,799 in the last 90 days. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $638,000. Victory Capital Management Inc. acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $862,000. TD Asset Management Inc lifted its stake in shares of Corbus Pharmaceuticals by 92.5% in the 2nd quarter. TD Asset Management Inc now owns 40,800 shares of the biopharmaceutical company’s stock valued at $1,846,000 after purchasing an additional 19,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at about $976,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $1,368,000. 64.64% of the stock is 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.