Corbus Pharmaceuticals (NASDAQ:CRBP) Given “Outperform” Rating at Wedbush

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research note issued on Wednesday,RTT News reports. They currently have a $51.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on CRBP. William Blair initiated coverage on shares of Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an “outperform” rating for the company. Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price (down from $75.00) on shares of Corbus Pharmaceuticals in a research report on Wednesday. Jefferies Financial Group reduced their price objective on Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $59.13.

Corbus Pharmaceuticals Trading Down 0.7 %

Shares of NASDAQ CRBP traded down $0.05 during trading on Wednesday, reaching $6.84. The company had a trading volume of 48,589 shares, compared to its average volume of 241,391. The stock has a market capitalization of $83.24 million, a PE ratio of -1.46 and a beta of 2.63. Corbus Pharmaceuticals has a twelve month low of $6.54 and a twelve month high of $61.90. The stock has a 50-day moving average price of $9.77 and a two-hundred day moving average price of $19.53.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.24. On average, sell-side analysts predict that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,172 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Corbus Pharmaceuticals by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock worth $469,000 after buying an additional 1,600 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Corbus Pharmaceuticals by 51.7% during 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 during the period. FMR LLC increased its holdings in shares of Corbus Pharmaceuticals by 33.0% in the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,486 shares during the period. Finally, Deutsche Bank AG lifted its position in 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 purchasing an additional 2,616 shares during the last quarter. 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.