Corbus Pharmaceuticals' (CRBP) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Corbus Pharmaceuticals (CRBP) with a target price of $40.00, indicating a potential upside of 107.04% from the stock's previous close.
• The stock has experienced a remarkable 342% year-to-date surge, reflecting strong performance and investor interest.
• Corbus Pharmaceuticals has a consensus rating of "Moderate Buy" with an average target price of $45.43, supported by a majority of analysts issuing buy ratings.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $40.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price objective indicates a potential upside of 107.04% from the stock's previous close.

CRBP has been the subject of several other research reports. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research note on Saturday, July 12th. B. Riley upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price objective for the company in a research note on Wednesday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Oppenheimer reduced their price target on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $45.43.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP opened at $19.32 on Monday. The company has a 50 day simple moving average of $11.62 and a 200 day simple moving average of $9.07. The firm has a market cap of $236.86 million, a PE ratio of -4.06 and a beta of 2.84. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $20.77.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.55) by $0.11. As a group, research analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Exome Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 1st quarter worth about $1,538,000. Armistice Capital LLC raised its stake in Corbus Pharmaceuticals by 5.9% in the 1st quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company's stock valued at $1,328,000 after acquiring an additional 14,000 shares during the period. Comerica Bank raised its stake in Corbus Pharmaceuticals by 20,000,000.0% in the 1st quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company's stock valued at $1,062,000 after acquiring an additional 200,000 shares during the period. Acadian Asset Management LLC bought a new stake in Corbus Pharmaceuticals in the 1st quarter valued at about $1,007,000. Finally, Atle Fund Management AB raised its stake in Corbus Pharmaceuticals by 78.6% in the 2nd quarter. Atle Fund Management AB now owns 175,582 shares of the biopharmaceutical company's stock valued at $1,212,000 after acquiring an additional 77,278 shares during the period. 64.64% of the stock is owned by hedge funds and other 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.

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