Oppenheimer Issues Pessimistic Forecast for Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) had its price objective cut by research analysts at Oppenheimer from $60.00 to $56.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the biopharmaceutical company's stock.

Other research analysts also recently issued reports about the company. Jefferies Financial Group cut their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. StockNews.com raised Corbus Pharmaceuticals to a "sell" rating in a report on Thursday, March 6th. HC Wainwright dropped their price objective on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. Finally, William Blair started coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.88.

Corbus Pharmaceuticals Stock Up 10.3%

Shares of CRBP stock traded up $0.67 during trading hours on Wednesday, reaching $7.12. The company's stock had a trading volume of 80,291 shares, compared to its average volume of 359,287. The firm's 50 day simple moving average is $6.33 and its 200-day simple moving average is $10.77. The company has a market capitalization of $87.03 million, a price-to-earnings ratio of -1.52 and a beta of 3.19. Corbus Pharmaceuticals has a fifty-two week low of $4.64 and a fifty-two week high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released 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). Sell-side analysts predict that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC grew its holdings 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 buying an additional 259,735 shares during the last quarter. Millennium Management LLC boosted its holdings in Corbus Pharmaceuticals by 215.0% in the 4th quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company's stock valued at $4,563,000 after purchasing an additional 263,902 shares in the last quarter. Altium Capital Management LLC boosted its holdings 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 valued at $4,543,000 after purchasing an additional 190,000 shares in the last quarter. Prosight Management LP lifted its position in shares of Corbus Pharmaceuticals by 107.7% during the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company's stock valued at $3,186,000 after acquiring an additional 140,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Corbus Pharmaceuticals by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 263,532 shares of the biopharmaceutical company's stock valued at $3,110,000 after acquiring an additional 13,773 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.