35,000 Shares in Corbus Pharmaceuticals Holdings, Inc. $CRBP Purchased by Stonepine Capital Management LLC

Key Points

• Stonepine Capital Management LLC acquired 35,000 shares of Corbus Pharmaceuticals Holdings, Inc. for approximately $186,000, representing about 0.29% of the company's stock.
• Corbus Pharmaceuticals has recently seen a 342% year-to-date surge in its stock value, with a current market capitalization of $120.03 million.
• Analysts have varied opinions on Corbus Pharmaceuticals, with B. Riley rating it a "strong-buy" and setting a price target of $28.00, while other analysts have set higher targets at $49.00.

Stonepine Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 35,000 shares of the biopharmaceutical company's stock, valued at approximately $186,000. Stonepine Capital Management LLC owned about 0.29% of Corbus Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRBP. Wells Fargo & Company MN grew its holdings 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 buying an additional 2,195 shares during the last quarter. Deutsche Bank AG grew its holdings 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 last quarter. Aquatic Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth about $101,000. Two Sigma Advisers LP purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth about $130,000. Finally, Nuveen LLC purchased a new position in shares of Corbus Pharmaceuticals during the first quarter worth about $243,000. Hedge funds and other institutional investors own 64.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. B. Riley raised Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 price objective on the stock in a report on Wednesday, July 30th. Oppenheimer lowered their price objective on Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. HC Wainwright lowered their price objective on Corbus Pharmaceuticals from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Lifesci Capital raised Corbus Pharmaceuticals to a "strong-buy" rating in a report on Saturday, July 12th. Finally, Royal Bank Of Canada lowered their price objective on Corbus Pharmaceuticals from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $49.00.

Corbus Pharmaceuticals Price Performance

Shares of NASDAQ:CRBP opened at $9.79 on Friday. The business's 50 day simple moving average is $8.59 and its 200-day simple moving average is $7.66. The firm has a market capitalization of $120.03 million, a price-to-earnings ratio of -2.06 and a beta of 3.20. Corbus Pharmaceuticals Holdings, Inc. has a 12 month low of $4.64 and a 12 month high of $61.72.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) EPS for the quarter, topping the consensus estimate of ($1.55) by $0.11. On average, equities analysts anticipate that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

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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