Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned a consensus rating of “Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $50.88.

Several research analysts have recently weighed in on CRBP shares. B. Riley reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th. Jefferies Financial Group reduced their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Wall Street Zen upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. Royal Bank of Canada lowered their target price on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Wedbush reissued an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th.

Corbus Pharmaceuticals Stock Down 1.0%

CRBP opened at $8.74 on Thursday. The firm has a market capitalization of $106.95 million, a P/E ratio of -1.86 and a beta of 3.11. The firm’s 50 day moving average is $7.34 and its 200-day moving average is $9.04. Corbus Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $61.90.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Corbus Pharmaceuticals by 51.7% in the 4th 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. Deutsche Bank AG lifted its holdings in Corbus Pharmaceuticals by 46.8% during the fourth 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. Aquatic Capital Management LLC purchased a new stake in Corbus Pharmaceuticals during the fourth quarter valued at about $101,000. Two Sigma Advisers LP bought a new stake in shares of Corbus Pharmaceuticals during the fourth quarter valued at about $130,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $323,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

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.