Oppenheimer Reiterates “Outperform” Rating for Corbus Pharmaceuticals (NASDAQ:CRBP)

Oppenheimer reissued their outperform rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $80.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Corbus Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, June 4th. Royal Bank of Canada increased their price target on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an outperform rating in a report on Tuesday, June 11th. Finally, B. Riley started coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a buy rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Corbus Pharmaceuticals currently has a consensus rating of Moderate Buy and an average price target of $73.25.

Corbus Pharmaceuticals Stock Up 10.4 %

NASDAQ CRBP opened at $58.90 on Wednesday. The company has a market cap of $629.64 million, a PE ratio of -8.46 and a beta of 2.59. Corbus Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $60.64. The firm’s 50-day simple moving average is $45.59 and its two-hundred day simple moving average is $33.33.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.26. As a group, equities research analysts anticipate that Corbus Pharmaceuticals will post -5.11 EPS for the current year.

Insider Activity at Corbus Pharmaceuticals

In related news, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $49.87, for a total value of $466,533.85. Following the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,423,931.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Sean F. Moran sold 9,355 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $49.87, for a total value of $466,533.85. Following the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,423,931.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sean F. Moran sold 1,958 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the transaction, the chief financial officer now owns 48,605 shares in the company, valued at $2,047,242.60. The disclosure for this sale can be found here. Insiders have sold 51,733 shares of company stock valued at $2,530,799 over the last three months. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Corbus Pharmaceuticals during the first quarter valued at approximately $976,000. Altitude Crest Partners Inc. bought a new position in Corbus Pharmaceuticals during the first quarter valued at approximately $4,069,000. Price T Rowe Associates Inc. MD bought a new position in Corbus Pharmaceuticals during the first quarter valued at approximately $7,554,000. Assenagon Asset Management S.A. bought a new position in Corbus Pharmaceuticals during the first quarter valued at approximately $10,181,000. Finally, Janus Henderson Group PLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth approximately $13,363,000. 64.64% of the stock is currently owned by institutional investors.

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.