Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Stock Has Average Target Price of $39.57 According to Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $39.57.

Several research analysts recently commented on the company. Oppenheimer reduced their price target on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Thursday, October 15th. Mizuho set a $33.00 price objective on Corbus Pharmaceuticals in a research note on Thursday, August 13th. Finally, Wall Street Zen downgraded Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th.

Insider Buying and Selling

In other news, insider Nishant C. Saxena purchased 2,600 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average price of $9.63 per share, for a total transaction of $25,038.00. Following the completion of the purchase, the insider directly owned 77,900 shares in the company, valued at $750,177. The trade was a 3.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yuval Cohen sold 17,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $10.08, for a total transaction of $171,360.00. Following the completion of the sale, the chief executive officer owned 157,316 shares of the company’s stock, valued at approximately $1,585,745.28. This represents a 9.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 31,000 shares of company stock worth $308,000. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRBP. Doliver Advisors LP acquired a new stake in shares of Corbus Pharmaceuticals in the third quarter valued at approximately $518,000. Engineers Gate Manager LP boosted its position in shares of Corbus Pharmaceuticals by 109.9% in the second quarter. Engineers Gate Manager LP now owns 29,800 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 15,600 shares during the period. Pale Fire Capital SE boosted its holdings in Corbus Pharmaceuticals by 13.8% in the 2nd quarter. Pale Fire Capital SE now owns 24,301 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 2,951 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Corbus Pharmaceuticals during the second quarter worth approximately $425,000. Finally, Seven Fleet Capital Management LP increased its holdings in shares of Corbus Pharmaceuticals by 51.0% during the first quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock worth $805,000 after purchasing an additional 28,937 shares during the period. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $4.22 on Friday. The firm has a 50-day moving average of $7.17 and a 200-day moving average of $8.60. Corbus Pharmaceuticals has a one year low of $3.87 and a one year high of $12.88. The company has a market cap of $78.79 million, a price-to-earnings ratio of -0.68 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.55). As a group, sell-side analysts expect that Corbus Pharmaceuticals will post -5.62 earnings per share for the current year.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research is centered on therapies designed to modulate immune-cell activity and target biological pathways involved in cancer and inflammatory disease.

Corbus’ oncology pipeline has included soquelitinib, formerly known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK) being evaluated for its potential to treat T-cell lymphomas and other cancers.