Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Crosses Above Fifty Day Moving Average - What's Next?

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report)'s stock price 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 changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. B. Riley reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Corbus Pharmaceuticals to a "sell" rating in a research note on Thursday, March 6th. Wedbush reiterated an "outperform" rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday, March 12th. HC Wainwright decreased their price objective on shares of Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, William Blair initiated coverage on Corbus Pharmaceuticals in a research note on Friday, February 28th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's 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 Performance

The firm has a market capitalization of $97.43 million, a P/E ratio of -1.89 and a beta of 3.12. The stock's 50 day simple moving average is $7.58 and its 200 day simple moving average is $8.76.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced 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). On average, analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake 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 valued at $76,000 after purchasing an additional 2,195 shares in the last quarter. Deutsche Bank AG raised its stake in Corbus Pharmaceuticals by 46.8% in 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 in the last quarter. Aquatic Capital Management LLC purchased a new stake in Corbus Pharmaceuticals during the fourth quarter worth $101,000. Two Sigma Advisers LP bought a new stake in Corbus Pharmaceuticals during the 4th quarter valued at $130,000. Finally, Stonepine Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at $186,000. Institutional investors own 64.64% of the company's stock.

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.