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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have been assigned an average recommendation of "Buy" from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $50.88.

A number of research firms have recently commented on CRBP. Wedbush restated an "outperform" rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. B. Riley reissued a "buy" rating on shares of Corbus Pharmaceuticals in a report on Wednesday, May 7th. HC Wainwright reduced their target price on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Royal Bank Of Canada dropped their price target on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Oppenheimer lowered their target price on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in CRBP. Exome Asset Management LLC acquired a new stake in Corbus Pharmaceuticals in the 1st quarter valued at approximately $1,538,000. Millennium Management LLC increased its position in shares of Corbus Pharmaceuticals by 215.0% during the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company's stock worth $4,563,000 after acquiring an additional 263,902 shares during the period. Orbimed Advisors LLC increased its position in shares of Corbus Pharmaceuticals by 28.5% during the fourth quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company's stock worth $13,833,000 after acquiring an additional 259,735 shares during the period. Comerica Bank increased its position in shares of Corbus Pharmaceuticals by 20,000,000.0% during the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company's stock worth $1,062,000 after acquiring an additional 200,000 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth $1,007,000. Institutional investors and hedge funds own 64.64% of the company's stock.

Corbus Pharmaceuticals Trading Down 0.1%

Shares of NASDAQ CRBP traded down $0.01 during mid-day trading on Monday, hitting $8.36. The company had a trading volume of 209,155 shares, compared to its average volume of 341,252. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $61.90. The stock's 50-day moving average price is $7.79 and its 200-day moving average price is $8.24. The company has a market capitalization of $102.33 million, a price-to-earnings ratio of -1.98 and a beta of 3.05.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.13). As a group, equities research analysts forecast that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

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.