Corbus Pharmaceuticals (NASDAQ:CRBP) Given “Buy” Rating at HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $75.00.

Several other equities research analysts have also issued reports on CRBP. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a research note on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective for the company. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. William Blair assumed coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group decreased their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

Corbus Pharmaceuticals Stock Performance

NASDAQ:CRBP opened at $6.88 on Wednesday. Corbus Pharmaceuticals has a 1 year low of $6.54 and a 1 year high of $61.90. The stock has a market cap of $83.79 million, a price-to-earnings ratio of -1.47 and a beta of 2.63. The business has a fifty day moving average of $9.77 and a 200-day moving average of $19.53.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.24. On average, equities research analysts predict that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Corbus Pharmaceuticals by 224.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock valued at $1,932,000 after acquiring an additional 64,800 shares in the last quarter. State Street Corp lifted its holdings in Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after acquiring an additional 153,243 shares during the period. JPMorgan Chase & Co. raised its position in Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 1,172 shares during the period. Geode Capital Management LLC lifted its stake in Corbus Pharmaceuticals by 8.1% in the third quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company’s stock valued at $5,154,000 after purchasing an additional 18,702 shares during the last quarter. Finally, HighVista Strategies LLC grew its stake in shares of Corbus Pharmaceuticals by 94.1% during the 3rd quarter. HighVista Strategies LLC now owns 75,292 shares of the biopharmaceutical company’s stock worth $1,553,000 after acquiring an additional 36,499 shares during the period. Institutional investors and hedge funds 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.