Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target Cut to $40.00 by Analysts at HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) had its target price lowered by investment analysts at HC Wainwright from $50.00 to $40.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock.

Several other equities research analysts have also commented on CRBP. StockNews.com upgraded shares of Corbus Pharmaceuticals to a "sell" rating in a research note on Thursday, March 6th. Jefferies Financial Group reduced their price objective on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. Wedbush reissued an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 12th. Finally, William Blair began coverage on shares of Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an "outperform" rating for the company. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.88.

Corbus Pharmaceuticals Price Performance

CRBP opened at $6.25 on Wednesday. Corbus Pharmaceuticals has a fifty-two week low of $4.64 and a fifty-two week high of $61.90. The firm has a market capitalization of $76.45 million, a price-to-earnings ratio of -1.33 and a beta of 3.19. The company's 50 day moving average price is $6.37 and its two-hundred day moving average price is $11.04.

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

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Corbus Pharmaceuticals by 27.0% in the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company's stock valued at $114,000 after purchasing an additional 1,172 shares during the period. Wells Fargo & Company MN increased its position in shares of 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 period. Avanza Fonder AB acquired a new position in Corbus Pharmaceuticals during the 4th quarter worth $84,000. Deutsche Bank AG increased its stake in shares of Corbus Pharmaceuticals by 46.8% during the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company's stock worth $97,000 after buying an additional 2,616 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at $101,000. Institutional investors and hedge funds 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.

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