Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $59.13 Consensus Price Target from Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have been assigned an average rating of "Buy" from the ten analysts that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $59.13.

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Corbus Pharmaceuticals to a "sell" rating in a research report on Thursday, March 6th. Wedbush restated an "outperform" rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. William Blair initiated coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an "outperform" rating on the stock. Jefferies Financial Group decreased their target price on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Finally, HC Wainwright restated a "buy" rating and set a $50.00 target price (down from $75.00) on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th.

Corbus Pharmaceuticals Stock Down 7.2 %

NASDAQ:CRBP traded down $0.58 during trading hours on Wednesday, hitting $7.50. 147,275 shares of the stock traded hands, compared to its average volume of 364,489. The company has a market cap of $91.74 million, a price-to-earnings ratio of -1.60 and a beta of 3.12. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $61.90. The stock has a 50 day moving average price of $6.42 and a 200 day moving average price of $11.46.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.24. Equities analysts forecast that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Corbus Pharmaceuticals by 34.6% in the 3rd quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company's stock worth $12,287,000 after purchasing an additional 153,243 shares during the period. JPMorgan Chase & Co. grew its stake in Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after acquiring an additional 1,172 shares in the last quarter. Geode Capital Management LLC grew its stake in Corbus Pharmaceuticals by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 249,759 shares of the biopharmaceutical company's stock worth $5,154,000 after acquiring an additional 18,702 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Corbus Pharmaceuticals by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 97,882 shares of the biopharmaceutical company's stock worth $1,155,000 after acquiring an additional 4,239 shares in the last quarter. Finally, Altium Capital Management LLC grew its stake in Corbus Pharmaceuticals by 97.4% in the 4th 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 in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

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.