Stonepine Capital Management LLC Takes Position in Corbus Pharmaceuticals Holdings, Inc. $CRBP

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 stake in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 35,000 shares of the biopharmaceutical company's stock, valued at approximately $186,000. Stonepine Capital Management LLC owned 0.29% of Corbus Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. AlphaQuest LLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth approximately $299,000. Nuveen LLC bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth approximately $243,000. Velan Capital Investment Management LP increased its position in shares of Corbus Pharmaceuticals by 13.4% in the fourth quarter. Velan Capital Investment Management LP now owns 56,700 shares of the biopharmaceutical company's stock worth $669,000 after purchasing an additional 6,700 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $130,000. Finally, Two Sigma Investments LP increased its position in shares of Corbus Pharmaceuticals by 212.3% in the fourth quarter. Two Sigma Investments LP now owns 134,175 shares of the biopharmaceutical company's stock worth $1,583,000 after purchasing an additional 91,205 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Corbus Pharmaceuticals Trading Down 4.1%

Shares of NASDAQ:CRBP traded down $0.41 during trading on Friday, reaching $9.50. 40,503 shares of the company traded hands, compared to its average volume of 182,481. The firm has a market capitalization of $116.41 million, a price-to-earnings ratio of -1.99 and a beta of 3.20. Corbus Pharmaceuticals Holdings, Inc. has a 52-week low of $4.64 and a 52-week high of $61.72. The business's fifty day moving average is $8.72 and its 200-day moving average is $7.67.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, beating analysts' consensus estimates of ($1.55) by $0.11. On average, sell-side analysts predict that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current fiscal year.

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.