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

Key Points

• Corbus Pharmaceuticals Holdings, Inc. has received an average rating of "Buy" from ten brokerages, with nine recommending a buy and one a strong buy, alongside a twelve-month price target averaging $49.38.
• The company experienced a significant 342% year-to-date stock surge and recently reported a quarterly earnings miss with an EPS of ($1.39), which was lower than the consensus estimate.
• Institutional investors, such as Two Sigma Investments and Millennium Management, have significantly increased their stakes in Corbus Pharmaceuticals, indicating strong interest from hedge funds.

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have received a consensus rating of "Buy" from the ten brokerages that are covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $49.3750.

Several research analysts recently weighed in on the stock. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Saturday, July 12th. HC Wainwright lowered their price objective 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. Royal Bank Of Canada lowered their price objective on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Oppenheimer lowered their target price on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, B. Riley upgraded Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 target price for the company in a report on Wednesday, July 30th.

Corbus Pharmaceuticals Stock Performance

NASDAQ CRBP traded up $0.04 during trading on Friday, reaching $9.35. 24,183 shares of the company traded hands, compared to its average volume of 193,046. The stock's 50 day moving average price is $8.32 and its two-hundred day moving average price is $7.78. The company has a market cap of $114.44 million, a price-to-earnings ratio of -2.22 and a beta of 3.20. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $61.89.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced its 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). Equities research analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Corbus Pharmaceuticals by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 263,532 shares of the biopharmaceutical company's stock worth $3,110,000 after buying an additional 13,773 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 2,195 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Corbus Pharmaceuticals by 769.4% in the 4th quarter. Renaissance Technologies LLC now owns 139,100 shares of the biopharmaceutical company's stock worth $1,641,000 after purchasing an additional 123,100 shares during the period. Walleye Capital LLC raised its holdings in shares of Corbus Pharmaceuticals by 49.4% in the 4th quarter. Walleye Capital LLC now owns 55,236 shares of the biopharmaceutical company's stock worth $652,000 after purchasing an additional 18,273 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Corbus Pharmaceuticals in the 4th quarter worth approximately $339,000. Institutional investors and hedge funds own 64.64% of the company's stock.

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.