Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $49.00 Average PT from Analysts

Key Points

• Corbus Pharmaceuticals has received an average recommendation of "Buy" from ten brokerages, with nine analysts rating the stock as a buy and one as a strong buy.
• The company's stock has experienced a 342% year-to-date surge and is currently trading at $9.89, with a target price average of $49.00 from analysts.
• Corbus reported a quarterly earnings per share of ($1.44), exceeding estimates, while institutional investors have shown increased interest in the company.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) has been given a consensus rating of "Buy" by the ten analysts that are covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $49.00.

CRBP has been the topic of several analyst reports. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating in a report on Saturday, July 12th. B. Riley upgraded shares of Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price target on the stock in a report on Wednesday, July 30th. HC Wainwright cut their price target on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada cut their price target on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Oppenheimer cut their price target 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.

Institutional Trading of Corbus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CRBP. Geode Capital Management LLC raised its position in Corbus Pharmaceuticals by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 263,532 shares of the biopharmaceutical company's stock worth $3,110,000 after acquiring an additional 13,773 shares during the period. Wells Fargo & Company MN raised its position in shares of Corbus Pharmaceuticals by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 2,195 shares during the period. Renaissance Technologies LLC raised its position in shares of Corbus Pharmaceuticals by 769.4% in the fourth quarter. Renaissance Technologies LLC now owns 139,100 shares of the biopharmaceutical company's stock valued at $1,641,000 after purchasing an additional 123,100 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the fourth quarter valued at approximately $101,000. Finally, Northern Trust Corp raised its position in shares of Corbus Pharmaceuticals by 12.4% in the fourth quarter. Northern Trust Corp now owns 103,264 shares of the biopharmaceutical company's stock valued at $1,219,000 after purchasing an additional 11,400 shares during the period. Institutional investors own 64.64% of the company's stock.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ CRBP traded down $0.53 during mid-day trading on Tuesday, reaching $9.37. 87,032 shares of the company's stock traded hands, compared to its average volume of 100,000. The stock has a market cap of $114.88 million, a P/E ratio of -1.97 and a beta of 3.08. The business has a 50-day simple moving average of $8.75 and a 200 day simple moving average of $7.65. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $61.72.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.55) by $0.11. Equities research analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal 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.