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

HC Wainwright reissued their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report issued on Monday, Marketbeat Ratings reports. HC Wainwright currently has a $40.00 price target on the biopharmaceutical company’s stock.

CRBP has been the topic of a number of other research reports. Lifesci Capital upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Saturday, July 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 8th. Oppenheimer decreased their price objective on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Finally, B. Riley raised Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.86.

Corbus Pharmaceuticals Trading Down 8.4%

Shares of NASDAQ CRBP opened at $17.74 on Monday. The stock has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $9.29. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $20.77. The firm has a market cap of $217.49 million, a price-to-earnings ratio of -3.73 and a beta of 2.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, beating the consensus estimate of ($1.55) by $0.11. Analysts forecast that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Corbus Pharmaceuticals in the third quarter worth about $1,080,000. Bank of America Corp DE boosted its stake in Corbus Pharmaceuticals by 333.6% in the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 55,314 shares in the last quarter. Baker Avenue Asset Management LP acquired a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $138,000. Marshall Wace LLP acquired a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $137,000. Finally, Corton Capital Inc. acquired a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $86,000. Institutional investors 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.