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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $39.57.

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

Corbus Pharmaceuticals Trading Down 0.7%

Shares of NASDAQ CRBP opened at $4.22 on Friday. Corbus Pharmaceuticals has a 12 month low of $3.87 and a 12 month high of $17.24. The firm has a market capitalization of $78.79 million, a price-to-earnings ratio of -0.68 and a beta of 2.63. The business has a 50-day moving average of $7.29 and a 200-day moving average of $8.62.

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 the consensus estimate of ($1.26) by ($0.55). On average, analysts predict that Corbus Pharmaceuticals will post -5.62 earnings per share for the current year.

Insider Transactions at Corbus Pharmaceuticals

In other news, insider Nishant Saxena acquired 2,600 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average cost of $9.63 per share, for a total transaction of $25,038.00. Following the acquisition, the insider owned 77,900 shares of the company’s stock, valued at $750,177. This trade represents a 3.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Yuval Cohen sold 17,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $10.08, for a total value of $171,360.00. Following the transaction, the chief executive officer owned 157,316 shares in the company, valued at $1,585,745.28. This trade represents a 9.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 31,000 shares of company stock worth $308,000. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Orbimed Advisors LLC raised its position in Corbus Pharmaceuticals by 8.8% in the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after purchasing an additional 140,000 shares during the period. Dimensional Fund Advisors LP boosted its position in Corbus Pharmaceuticals by 76.6% during the first quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,281,000 after buying an additional 59,248 shares during the period. Exome Asset Management LLC boosted its position in Corbus Pharmaceuticals by 67.8% during the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock valued at $2,199,000 after buying an additional 94,593 shares during the period. Doliver Advisors LP purchased a new stake in Corbus Pharmaceuticals during the third quarter valued at about $518,000. Finally, Engineers Gate Manager LP grew its stake in shares of Corbus Pharmaceuticals by 109.9% during the second quarter. Engineers Gate Manager LP now owns 29,800 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 15,600 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors.

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 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.