Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Stock Has Average Price Target of $41.00

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $41.00.

Several research analysts have issued reports on CRBP shares. Oppenheimer dropped their target price on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen cut shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Mizuho set a $33.00 price objective on shares of Corbus Pharmaceuticals in a report on Thursday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 14th.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $6.13 on Wednesday. The firm has a 50 day moving average price of $9.17 and a 200-day moving average price of $9.27. Corbus Pharmaceuticals has a 52-week low of $6.06 and a 52-week high of $20.56. The firm has a market capitalization of $114.45 million, a price-to-earnings ratio of -0.99 and a beta of 2.63.

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

Insider Activity at Corbus Pharmaceuticals

In related news, CFO Sean Moran sold 12,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $10.08, for a total value of $120,960.00. Following the completion of the transaction, the chief financial officer owned 84,694 shares of the company’s stock, valued at approximately $853,715.52. This represents a 12.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Yuval Cohen sold 17,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $171,360.00. Following the completion of the transaction, the chief executive officer directly owned 157,316 shares of the company’s stock, valued at $1,585,745.28. This represents a 9.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 31,000 shares of company stock worth $308,000. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in CRBP. Doliver Advisors LP bought a new position in shares of Corbus Pharmaceuticals during the third quarter worth $518,000. Engineers Gate Manager LP increased its holdings in Corbus Pharmaceuticals by 109.9% in the 2nd 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 last quarter. Pale Fire Capital SE lifted its stake in shares of 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 last quarter. Bank of New York Mellon Corp bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at approximately $425,000. Finally, Seven Fleet Capital Management LP boosted its holdings in shares of Corbus Pharmaceuticals by 51.0% in the 1st 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. Institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research programs are designed to target biological pathways involved in tumor growth, immune regulation and tissue fibrosis.

Corbus’s oncology pipeline includes CRB-701, an antibody-drug conjugate designed to target Nectin-4, a protein expressed on several solid tumors. The company is also developing CRB-601, an investigational monoclonal antibody directed at the alpha v beta 6 integrin, a target associated with tumor biology and fibrotic disease.