Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Recommendation of "Buy" by Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have earned a consensus recommendation of "Buy" from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $65.86.

• Corbus Pharmaceuticals stock: An explosive 342% YTD surge

Several equities research analysts recently weighed in on the stock. Oppenheimer upped their price objective on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. B. Riley decreased their price objective on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, September 20th. Wedbush lowered their price objective on shares of Corbus Pharmaceuticals from $85.00 to $51.00 and set an "outperform" rating for the company in a research report on Friday, September 20th. Lifesci Capital raised Corbus Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, August 21st. Finally, HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, September 23rd.

View Our Latest Stock Analysis on CRBP

Corbus Pharmaceuticals Stock Down 3.5 %

• Corbus Pharmaceuticals NASDAQ: CRBP Gives a Bold Buy Signal

Shares of NASDAQ:CRBP opened at $19.21 on Friday. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90. The company's 50 day moving average price is $47.56 and its two-hundred day moving average price is $45.44. The firm has a market cap of $205.30 million, a PE ratio of -2.76 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts' consensus estimates of ($1.19) by $0.29. On average, research analysts expect that Corbus Pharmaceuticals will post -3.77 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the company's stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $20.01 per share, for a total transaction of $7,003,500.00. Following the completion of the transaction, the insider now owns 2,375,000 shares of the company's stock, valued at $47,523,750. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds have recently modified their holdings of CRBP. SG Americas Securities LLC acquired a new stake in Corbus Pharmaceuticals in the third quarter valued at $151,000. Rhumbline Advisers acquired a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at about $638,000. Acadian Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $716,000. ClariVest Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the second quarter worth approximately $725,000. Finally, Victory Capital Management Inc. bought a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $862,000. 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.

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