Corbus Pharmaceuticals (NASDAQ:CRBP) Given New $56.00 Price Target at Oppenheimer

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

A number of other research analysts have also weighed in on CRBP. William Blair initiated coverage on shares of Corbus Pharmaceuticals in a research note on Friday, February 28th. They issued an "outperform" rating on the stock. Jefferies Financial Group lowered their price target on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Wedbush reissued an "outperform" rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. StockNews.com raised shares of Corbus Pharmaceuticals to a "sell" rating in a research note on Thursday, March 6th. Finally, HC Wainwright reduced their target price on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.88.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP traded down $0.20 during trading hours on Wednesday, reaching $6.45. The company's stock had a trading volume of 126,311 shares, compared to its average volume of 359,309. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $61.90. The company's 50-day moving average is $6.33 and its two-hundred day moving average is $10.85. The firm has a market capitalization of $78.90 million, a price-to-earnings ratio of -1.38 and a beta of 3.19.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings results 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). Equities analysts forecast that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors have recently made changes to their positions in CRBP. Wells Fargo & Company MN increased its stake in Corbus Pharmaceuticals by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock worth $76,000 after acquiring an additional 2,195 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Corbus Pharmaceuticals during the 4th quarter worth about $84,000. Deutsche Bank AG raised its holdings 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 buying an additional 2,616 shares during the period. Aquatic Capital Management LLC acquired a new position in Corbus Pharmaceuticals in the fourth quarter valued at about $101,000. Finally, JPMorgan Chase & Co. boosted its stake in Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock worth $114,000 after buying an additional 1,172 shares during the period. Hedge funds and other institutional investors own 64.64% of the company's stock.

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.