Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $59.13 Average Price Target from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned an average recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $59.13.

Several equities research analysts have weighed in on the company. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th. Wedbush restated an “outperform” rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price (down from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Jefferies Financial Group cut their target price on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Finally, William Blair started coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They issued an “outperform” rating for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 1,172 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Corbus Pharmaceuticals by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after purchasing an additional 1,600 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Corbus Pharmaceuticals by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 2,195 shares during the last quarter. FMR LLC boosted its position 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 purchasing an additional 2,486 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Corbus Pharmaceuticals by 46.8% during the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 2,616 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $5.02 on Friday. The stock has a market cap of $61.40 million, a price-to-earnings ratio of -1.07 and a beta of 3.12. The firm has a 50-day moving average of $7.58 and a two-hundred day moving average of $13.83. Corbus Pharmaceuticals has a 1 year low of $4.67 and a 1 year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.24. Research analysts expect that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

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.