Brokerages Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Target Price at $50.88

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) has earned an average rating of "Buy" from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on 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 analysts have weighed in on CRBP shares. Royal Bank of Canada decreased their price target on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Oppenheimer decreased their price target on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. William Blair assumed coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an "outperform" rating on the stock. Finally, B. Riley reissued a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in CRBP. Wells Fargo & Company MN lifted its position in Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 2,195 shares in the last quarter. Deutsche Bank AG lifted its position in Corbus Pharmaceuticals by 46.8% in the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock valued at $97,000 after acquiring an additional 2,616 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Corbus Pharmaceuticals in the 4th quarter valued at about $101,000. Two Sigma Advisers LP bought a new position in Corbus Pharmaceuticals in the 4th quarter valued at about $130,000. Finally, Stonepine Capital Management LLC bought a new position in Corbus Pharmaceuticals in the 1st quarter valued at about $186,000. Institutional investors own 64.64% of the company's stock.

Corbus Pharmaceuticals Stock Down 3.7%

Shares of NASDAQ CRBP traded down $0.34 during midday trading on Thursday, reaching $8.83. 97,975 shares of the company were exchanged, compared to its average volume of 350,233. The stock's 50-day moving average price is $7.27 and its 200-day moving average price is $9.23. The stock has a market cap of $108.05 million, a P/E ratio of -1.88 and a beta of 3.11. Corbus Pharmaceuticals has a one year low of $4.64 and a one year high of $61.90.

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 the consensus estimate of ($1.26) by ($0.13). On average, equities research analysts anticipate that Corbus Pharmaceuticals will post -4.23 EPS for the current 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.