Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Consensus Rating of “Buy” by Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus rating of “Buy” by the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.13.

Several research firms have recently weighed in on CRBP. Jefferies Financial Group dropped their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. HC Wainwright restated a “buy” rating and set a $50.00 target price (down previously from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Piper Sandler assumed coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company. Finally, William Blair assumed coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an “outperform” rating on the stock.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 1,172 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Corbus Pharmaceuticals by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after acquiring an additional 1,600 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Corbus Pharmaceuticals by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 2,195 shares during the period. FMR LLC raised its position in shares of Corbus Pharmaceuticals by 33.0% during the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 2,486 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Corbus Pharmaceuticals by 46.8% in the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 2,616 shares during the period. 64.64% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $5.52 on Friday. The business’s fifty day moving average price is $8.20 and its two-hundred day moving average price is $15.53. Corbus Pharmaceuticals has a fifty-two week low of $5.49 and a fifty-two week high of $61.90. The stock has a market capitalization of $67.52 million, a price-to-earnings ratio of -1.18 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.24. Research analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

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.