Corbus Pharmaceuticals’ (CRBP) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $80.00 target price on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Corbus Pharmaceuticals’ Q3 2024 earnings at ($0.96) EPS, Q4 2024 earnings at ($1.00) EPS, FY2024 earnings at ($3.77) EPS, FY2025 earnings at ($4.14) EPS, FY2026 earnings at ($4.39) EPS, FY2027 earnings at ($5.25) EPS and FY2028 earnings at ($6.30) EPS.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada raised their price target on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an outperform rating in a research note on Tuesday, June 11th. StockNews.com raised shares of Corbus Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. Wedbush started coverage on Corbus Pharmaceuticals in a report on Tuesday, July 30th. They issued an outperform rating and a $85.00 price objective for the company. B. Riley assumed coverage on Corbus Pharmaceuticals in a report on Wednesday, June 26th. They set a buy rating and a $85.00 target price on the stock. Finally, Oppenheimer restated an outperform rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Corbus Pharmaceuticals has a consensus rating of Moderate Buy and an average target price of $77.67.

Corbus Pharmaceuticals Stock Down 2.8 %

Shares of CRBP stock opened at $52.10 on Tuesday. The company has a market capitalization of $556.79 million, a price-to-earnings ratio of -7.70 and a beta of 2.59. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90. The firm has a fifty day moving average of $50.94 and a 200-day moving average of $40.33.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $0.29. On average, equities analysts expect that Corbus Pharmaceuticals will post -4.68 EPS for the current year.

Insider Activity at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 11,103 shares of Corbus Pharmaceuticals stock in a transaction on Monday, June 17th. The shares were sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the transaction, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at $3,884,088. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Yuval Cohen sold 11,103 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at approximately $3,884,088. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sean F. Moran sold 1,958 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the transaction, the chief financial officer now directly owns 48,605 shares in the company, valued at $2,047,242.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,733 shares of company stock worth $2,530,799. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ikarian Capital LLC raised its holdings in Corbus Pharmaceuticals by 185.5% in the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock valued at $21,946,000 after acquiring an additional 363,372 shares in the last quarter. Vanguard Group Inc. raised its stake in Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after purchasing an additional 257,808 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Corbus Pharmaceuticals during the first quarter worth about $13,363,000. Assenagon Asset Management S.A. acquired a new stake in Corbus Pharmaceuticals during the first quarter worth about $10,181,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Corbus Pharmaceuticals in the 1st quarter valued at about $7,554,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.