Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Corbus Pharmaceuticals Holdings, Inc. has received a consensus recommendation of "Buy" from nine research firms, with an average twelve-month target price of $45.43.
• The stock has seen a remarkable year-to-date surge of 342%, reflecting strong investor interest and positive analyst ratings.
• Corbus recently reported improved quarterly earnings, with an EPS of ($1.44), beating estimates by $0.11.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) has been assigned an average recommendation of "Buy" from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $45.4286.

CRBP has been the topic of several analyst reports. Oppenheimer lowered their target price on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Saturday, July 12th. HC Wainwright reissued a "buy" rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday, September 17th. Finally, B. Riley raised Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price objective on the stock in a report on Wednesday, July 30th.

Corbus Pharmaceuticals Trading Down 0.3%

CRBP stock traded down $0.04 on Friday, hitting $11.52. The company's stock had a trading volume of 13,681 shares, compared to its average volume of 179,188. The stock has a market cap of $141.24 million, a price-to-earnings ratio of -2.42 and a beta of 3.08. The firm has a 50 day moving average of $9.50 and a two-hundred day moving average of $7.94. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $23.33.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corton Capital Inc. purchased a new position in Corbus Pharmaceuticals in the second quarter valued at about $86,000. Deutsche Bank AG grew its holdings in shares of Corbus Pharmaceuticals by 46.8% in the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 2,616 shares during the period. Two Sigma Advisers LP purchased a new position in Corbus Pharmaceuticals in the 4th quarter valued at approximately $130,000. Marshall Wace LLP acquired a new position in Corbus Pharmaceuticals during the second quarter worth $137,000. Finally, Baker Avenue Asset Management LP acquired a new position in Corbus Pharmaceuticals during the second quarter worth $138,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.