Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $50.88 Consensus PT from Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned an average rating of “Buy” from the ten research firms that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $50.88.

A number of research firms have weighed in on CRBP. B. Riley restated a “buy” rating on shares of Corbus Pharmaceuticals in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. HC Wainwright dropped their price target on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Jefferies Financial Group cut their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Finally, William Blair initiated coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They set an “outperform” rating for the company.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP grew its stake in Corbus Pharmaceuticals by 212.3% in the fourth quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company’s stock worth $1,583,000 after purchasing an additional 91,205 shares in the last quarter. Millennium Management LLC grew its position in shares of Corbus Pharmaceuticals by 215.0% in the 4th quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock worth $4,563,000 after acquiring an additional 263,902 shares in the last quarter. Deutsche Bank AG increased its holdings 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 acquiring an additional 2,616 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at approximately $323,000. Finally, Northern Trust Corp raised its position in shares of Corbus Pharmaceuticals by 12.4% during the 4th quarter. Northern Trust Corp now owns 103,264 shares of the biopharmaceutical company’s stock valued at $1,219,000 after acquiring an additional 11,400 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Up 0.4%

Shares of CRBP stock opened at $8.31 on Thursday. The company has a market cap of $101.71 million, a PE ratio of -1.97 and a beta of 3.11. The company’s fifty day simple moving average is $7.44 and its 200-day simple moving average is $9.03. Corbus Pharmaceuticals has a 52 week low of $4.64 and a 52 week high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.13). Equities research analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

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.