Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Recommendation of “Buy” from Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned a consensus rating of “Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $59.13.

Several brokerages have commented on CRBP. William Blair started coverage on shares of Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an “outperform” rating on the stock. StockNews.com upgraded Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. HC Wainwright restated a “buy” rating and set a $50.00 price target (down previously from $75.00) on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Wedbush reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Finally, Jefferies Financial Group cut their target price on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, March 11th.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Corbus Pharmaceuticals by 224.7% during 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 purchasing an additional 64,800 shares during the last quarter. State Street Corp grew its stake in shares of Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock valued at $12,287,000 after buying an additional 153,243 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 1,172 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Corbus Pharmaceuticals by 8.1% in the third quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company’s stock worth $5,154,000 after buying an additional 18,702 shares during the period. Finally, HighVista Strategies LLC lifted 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 last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Up 2.0 %

NASDAQ:CRBP opened at $5.02 on Friday. The stock has a 50-day moving average price of $7.58 and a 200 day moving average price of $13.83. Corbus Pharmaceuticals has a 12-month low of $4.67 and a 12-month high of $61.90. The stock has a market capitalization of $61.40 million, a P/E ratio of -1.07 and a beta of 3.12.

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

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.