Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• Corbus Pharmaceuticals (NASDAQ:CRBP) stock has crossed above its fifty day moving average of $8.25, reaching a trading high of $9.75.
• Despite a year-to-date surge of 342%, the company reported earnings of ($1.39) per share, missing estimates by ($0.13).
• Analysts have mixed views on the stock, with nine buy ratings and a consensus target price of $49.38.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report)'s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.25 and traded as high as $9.75. Corbus Pharmaceuticals shares last traded at $9.26, with a volume of 95,010 shares.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRBP. HC Wainwright dropped their target price on shares of 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 started coverage on Corbus Pharmaceuticals in a report on Wednesday, July 30th. They issued a "buy" rating and a $28.00 target price on the stock. Royal Bank Of Canada dropped their target price on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Saturday, July 12th. Finally, Oppenheimer reduced their price objective on Corbus Pharmaceuticals from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $49.38.

Corbus Pharmaceuticals Stock Up 0.2%

The firm's 50-day simple moving average is $8.32 and its 200-day simple moving average is $7.78. The firm has a market capitalization of $114.14 million, a P/E ratio of -2.21 and a beta of 3.20.

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). As a group, analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 2,195 shares during the period. Deutsche Bank AG boosted its stake in 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. Aquatic Capital Management LLC bought a new position in Corbus Pharmaceuticals during the fourth quarter valued at $101,000. Two Sigma Advisers LP purchased a new stake in shares of Corbus Pharmaceuticals in the fourth quarter valued at $130,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at $141,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

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.