Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Rating of “Buy” by Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. Eight 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 objective among brokerages that have issued ratings on the stock in the last year is $62.00.

CRBP has been the subject of several recent analyst reports. B. Riley lowered their price objective on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, September 23rd. Mizuho reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 20th. Finally, Wedbush reiterated an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, November 4th.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in 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 acquiring an additional 1,600 shares during the period. FMR LLC increased its stake in shares of Corbus Pharmaceuticals by 33.0% during the third quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 2,486 shares in the last quarter. Vestcor Inc purchased a new position in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $64,000. Victory Capital Management Inc. boosted its position in shares of Corbus Pharmaceuticals by 29.9% in the 3rd quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock worth $511,000 after purchasing an additional 5,700 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter worth approximately $123,000. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Up 0.1 %

NASDAQ:CRBP opened at $13.17 on Thursday. The firm has a market capitalization of $160.40 million, a P/E ratio of -2.81 and a beta of 2.58. Corbus Pharmaceuticals has a 52 week low of $5.30 and a 52 week high of $61.90. The company has a fifty day moving average of $16.62 and a 200 day moving average of $36.01.

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.