Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Recommendation of “Buy” by Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has received an average rating of “Buy” from the nine analysts that are currently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $62.00.

CRBP has been the topic of a number of analyst reports. Mizuho reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. B. Riley reduced their price objective on Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 23rd.

Corbus Pharmaceuticals Price Performance

Shares of CRBP opened at $13.30 on Thursday. Corbus Pharmaceuticals has a 12 month low of $5.09 and a 12 month high of $61.90. The stock has a fifty day moving average price of $17.06 and a 200 day moving average price of $37.01. The company has a market cap of $161.98 million, a P/E ratio of -2.84 and a beta of 2.57.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, September 20th. The stock was bought at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the transaction, the insider now owns 2,375,000 shares in the company, valued at approximately $47,523,750. This trade represents a 17.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Corbus Pharmaceuticals in the second quarter valued at $1,368,000. Darwin Global Management Ltd. acquired a new position in shares of Corbus Pharmaceuticals in the 2nd quarter worth $14,267,000. Charles Schwab Investment Management Inc. raised its position in shares of Corbus Pharmaceuticals by 224.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock worth $1,932,000 after purchasing an additional 64,800 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the second quarter valued at $716,000. Finally, TD Asset Management Inc boosted its position 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. 64.64% of the stock is owned by institutional investors and hedge funds.

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.