Corbus Pharmaceuticals (NASDAQ:CRBP) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $40.00 price objective on the biopharmaceutical company’s stock.

CRBP has been the topic of a number of other research reports. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Saturday, July 12th. Oppenheimer cut their price target on Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Finally, B. Riley upgraded Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $45.43.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $11.50 on Wednesday. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $23.33. The company’s 50 day simple moving average is $9.44 and its 200 day simple moving average is $7.90. The stock has a market capitalization of $140.99 million, a price-to-earnings ratio of -2.42 and a beta of 3.08.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.55) by $0.11. As a group, analysts anticipate that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CRBP. Corton Capital Inc. bought a new stake in Corbus Pharmaceuticals in the second quarter worth about $86,000. Deutsche Bank AG raised its position in Corbus Pharmaceuticals by 46.8% in the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 2,616 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Corbus Pharmaceuticals in the 4th quarter worth approximately $130,000. Marshall Wace LLP bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth approximately $137,000. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter worth approximately $138,000. Institutional investors own 64.64% of the company’s stock.

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.