Brokerages Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) PT at $65.86

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $65.86.

CRBP has been the topic of a number of recent research reports. StockNews.com lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Mizuho reaffirmed an “outperform” rating and set a $74.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday, September 20th. Oppenheimer upped their price objective on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Lifesci Capital raised Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 21st.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp bought 350,000 shares of the stock in a transaction on Friday, September 20th. The shares were bought at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the acquisition, the insider now owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter valued at $151,000. Rhumbline Advisers purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $638,000. Acadian Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $716,000. ClariVest Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $725,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $862,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Trading Up 4.6 %

NASDAQ:CRBP opened at $19.15 on Wednesday. The firm has a market cap of $230.64 million, a P/E ratio of -3.30 and a beta of 2.56. The stock’s 50 day simple moving average is $30.69 and its 200-day simple moving average is $42.32. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Research analysts forecast that Corbus Pharmaceuticals will post -3.8 EPS 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.