Free Trial

Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price Passes Above 50-Day Moving Average - What's Next?

Corbus Pharmaceuticals logo with Medical background

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.76 and traded as high as $7.90. Corbus Pharmaceuticals shares last traded at $7.61, with a volume of 77,721 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada decreased their target price on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Jefferies Financial Group decreased their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. B. Riley reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, May 7th. HC Wainwright reduced their price target on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Wedbush reissued an "outperform" rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.88.

Get Our Latest Report on Corbus Pharmaceuticals

Corbus Pharmaceuticals Stock Performance

The company has a 50 day moving average of $7.74 and a two-hundred day moving average of $8.28. The stock has a market capitalization of $89.35 million, a PE ratio of -1.73 and a beta of 3.05.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings results 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). As a group, research analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC grew its stake in Corbus Pharmaceuticals by 28.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company's stock valued at $13,833,000 after purchasing an additional 259,735 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of 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 buying an additional 263,902 shares during the period. Altium Capital Management LLC raised 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 worth $4,543,000 after purchasing an additional 190,000 shares during the period. Exome Asset Management LLC acquired a new position in Corbus Pharmaceuticals in the 1st quarter worth about $1,538,000. Finally, Prosight Management LP raised its holdings in Corbus Pharmaceuticals by 107.7% in the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company's stock worth $3,186,000 after purchasing an additional 140,000 shares during the period. Hedge funds and other institutional investors own 64.64% of the company's stock.

Corbus Pharmaceuticals Company Profile

(Get Free Report)

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.

Recommended Stories

Should You Invest $1,000 in Corbus Pharmaceuticals Right Now?

Before you consider Corbus Pharmaceuticals, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corbus Pharmaceuticals wasn't on the list.

While Corbus Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

The $2.5B Merger No One Is Talking About
ALERT: Big Tech Earnings – Watch Before Wednesday
ACT FAST! Congress is Dumping these 3 Stocks

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines