Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Consensus Rating of "Buy" from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) has been assigned a consensus rating of "Buy" from the ten brokerages that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $50.88.

CRBP has been the subject of several recent research reports. HC Wainwright decreased their price target on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Jefferies Financial Group decreased their price target on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Wedbush reissued an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. Oppenheimer decreased their price objective 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. Finally, B. Riley reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Orbimed Advisors LLC lifted its position in shares of Corbus Pharmaceuticals by 28.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company's stock worth $13,833,000 after purchasing an additional 259,735 shares during the last quarter. Millennium Management LLC lifted its position 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 lifted 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 valued at $4,543,000 after acquiring an additional 190,000 shares during the last quarter. Exome Asset Management LLC purchased a new stake in Corbus Pharmaceuticals in the first quarter valued at $1,538,000. Finally, Prosight Management LP lifted its position in Corbus Pharmaceuticals by 107.7% in the fourth quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company's stock valued at $3,186,000 after acquiring an additional 140,000 shares during the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Stock Down 1.9%

CRBP stock traded down $0.14 during midday trading on Friday, hitting $7.40. The company's stock had a trading volume of 79,613 shares, compared to its average volume of 356,682. Corbus Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $61.90. The firm has a market capitalization of $90.55 million, a P/E ratio of -1.58 and a beta of 3.19. The firm has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $10.19.

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

About Corbus Pharmaceuticals

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.