Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.54 and traded as high as $8.53. Corbus Pharmaceuticals shares last traded at $8.24, with a volume of 135,432 shares.
Analyst Ratings Changes
CRBP has been the subject of a number of research reports. HC Wainwright lowered their target price on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. B. Riley reiterated a "buy" rating on shares of Corbus Pharmaceuticals in a report on Wednesday, May 7th. Jefferies Financial Group lowered their target price on Corbus Pharmaceuticals from $70.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Wedbush reiterated an "outperform" rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. Finally, Royal Bank Of Canada reduced their price objective on shares of Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. One investment 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $50.88.
Check Out Our Latest Analysis on CRBP
Corbus Pharmaceuticals Trading Down 0.8%
The stock's 50 day moving average price is $7.54 and its 200 day moving average price is $8.91. The company has a market capitalization of $100.86 million, a price-to-earnings ratio of -1.95 and a beta of 3.11.
Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.13). On average, research analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.
Institutional Investors Weigh In On Corbus Pharmaceuticals
Hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP lifted its stake in Corbus Pharmaceuticals by 212.3% in the 4th quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company's stock valued at $1,583,000 after purchasing an additional 91,205 shares during the last quarter. Millennium Management LLC lifted its stake 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 during the last quarter. 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 acquiring an additional 2,616 shares during the period. BNP Paribas Financial Markets bought a new position in Corbus Pharmaceuticals in the 4th quarter valued at about $323,000. Finally, Northern Trust Corp raised its holdings in Corbus Pharmaceuticals by 12.4% in the 4th quarter. Northern Trust Corp now owns 103,264 shares of the biopharmaceutical company's stock valued at $1,219,000 after acquiring an additional 11,400 shares during the period. 64.64% of the stock is currently owned by institutional investors and hedge funds.
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.
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