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

HC Wainwright restated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $75.00 target price on the biopharmaceutical company’s stock.

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

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $8.31 on Tuesday. The stock has a market capitalization of $101.22 million, a P/E ratio of -1.77 and a beta of 2.63. The firm’s 50-day moving average is $11.35 and its two-hundred day moving average is $24.36. Corbus Pharmaceuticals has a 12 month low of $7.64 and a 12 month high of $61.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vestcor Inc purchased a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $64,000. Wells Fargo & Company MN raised its holdings in Corbus Pharmaceuticals by 51.7% in the fourth 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 in the last quarter. Avanza Fonder AB purchased a new position in Corbus Pharmaceuticals in the fourth quarter worth approximately $84,000. Deutsche Bank AG grew its holdings in Corbus Pharmaceuticals by 46.8% during the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 2,616 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at approximately $101,000. 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.