Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Reaffirmed by Royal Bank of Canada

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $82.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 44.62% from the stock’s current price.

A number of other brokerages also recently weighed in on CRBP. B. Riley initiated coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday. StockNews.com raised Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Oppenheimer upped their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wedbush assumed coverage on shares of Corbus Pharmaceuticals in a research note on Tuesday, July 30th. They issued an “outperform” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.67.

Corbus Pharmaceuticals Stock Performance

Shares of Corbus Pharmaceuticals stock traded up $3.10 during trading on Wednesday, reaching $56.70. The company’s stock had a trading volume of 153,636 shares, compared to its average volume of 541,709. Corbus Pharmaceuticals has a one year low of $3.03 and a one year high of $61.90. The firm has a market cap of $605.95 million, a price-to-earnings ratio of -8.12 and a beta of 2.59. The business’s fifty day moving average price is $50.94 and its 200-day moving average price is $40.33.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.29. Sell-side analysts anticipate that Corbus Pharmaceuticals will post -4.68 EPS for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, CEO Yuval Cohen sold 11,103 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the sale, the chief executive officer now owns 84,400 shares in the company, valued at approximately $3,884,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Yuval Cohen sold 11,103 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $46.02, for a total value of $510,960.06. Following the transaction, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at approximately $3,884,088. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean F. Moran sold 1,958 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,733 shares of company stock valued at $2,530,799. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ikarian Capital LLC lifted its stake in shares of Corbus Pharmaceuticals by 185.5% during the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock valued at $21,946,000 after acquiring an additional 363,372 shares during the period. Vanguard Group Inc. grew its position in shares of Corbus Pharmaceuticals by 143.7% during the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after buying an additional 257,808 shares during the period. Janus Henderson Group PLC acquired a new position in Corbus Pharmaceuticals in the first quarter valued at approximately $13,363,000. Assenagon Asset Management S.A. bought a new stake in shares of Corbus Pharmaceuticals in the first quarter worth about $10,181,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $7,554,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.