Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Rating of "Buy" by Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have received an average rating of "Buy" from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $50.88.

A number of equities analysts recently weighed in on CRBP shares. William Blair began coverage on Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an "outperform" rating for the company. HC Wainwright lowered their price target on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. StockNews.com raised Corbus Pharmaceuticals to a "sell" rating in a research note on Thursday, March 6th. B. Riley reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, May 7th. Finally, Oppenheimer reduced their target price on shares of Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Orbimed Advisors LLC boosted its holdings in Corbus Pharmaceuticals by 28.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company's stock valued at $13,833,000 after purchasing an additional 259,735 shares during the last quarter. Millennium Management LLC lifted its holdings in Corbus Pharmaceuticals by 215.0% in the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company's stock valued at $4,563,000 after acquiring an additional 263,902 shares during the last quarter. Altium Capital Management LLC grew its position in Corbus Pharmaceuticals by 97.4% in the fourth quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company's stock worth $4,543,000 after acquiring an additional 190,000 shares during the period. Exome Asset Management LLC acquired a new stake in Corbus Pharmaceuticals during the first quarter worth $1,538,000. Finally, Prosight Management LP increased its stake in Corbus Pharmaceuticals by 107.7% during the fourth quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company's stock worth $3,186,000 after acquiring an additional 140,000 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company's stock.

Corbus Pharmaceuticals Price Performance

CRBP opened at $7.34 on Friday. The firm has a fifty day moving average price of $6.36 and a 200 day moving average price of $10.49. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $61.90. The stock has a market cap of $89.82 million, a P/E ratio of -1.57 and a beta of 3.19.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.13). Equities analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current 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.

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