Corbus Pharmaceuticals' (CRBP) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a "Buy" rating for Corbus Pharmaceuticals (NASDAQ:CRBP) with a price target of $40.00, indicating a potential upside of 289.48% from its prior close.
• Corbus Pharmaceuticals has seen a significant 342% year-to-date surge in stock performance, reflecting strong investor interest and momentum.
• The company reported an EPS of ($1.44) for the last quarter, surpassing expectations, with analysts forecasting an annual EPS of ($4.23) for the current year.

HC Wainwright restated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP - Free Report) in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $40.00 price objective on the biopharmaceutical company's stock.

A number of other research analysts have also recently weighed in on CRBP. Oppenheimer reduced their target price on Corbus Pharmaceuticals from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Lifesci Capital upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a report on Saturday, July 12th. Finally, B. Riley upgraded Corbus Pharmaceuticals to a "strong-buy" rating and set a $28.00 target price on the stock in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $45.43.

Corbus Pharmaceuticals Stock Down 1.0%

Shares of CRBP stock traded down $0.12 during mid-day trading on Wednesday, hitting $11.50. 283,518 shares of the company's stock were exchanged, compared to its average volume of 127,128. Corbus Pharmaceuticals has a fifty-two week low of $4.64 and a fifty-two week high of $23.33. The stock has a 50-day simple moving average of $9.44 and a two-hundred day simple moving average of $7.90. The stock has a market cap of $140.99 million, a price-to-earnings ratio of -2.42 and a beta of 3.08.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.55) by $0.11. As a group, analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in Corbus Pharmaceuticals by 215.0% in the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company's stock valued at $4,563,000 after buying an additional 263,902 shares during the last quarter. Exome Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $1,538,000. Armistice Capital LLC lifted its holdings in shares of Corbus Pharmaceuticals by 5.9% in the 1st quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company's stock worth $1,328,000 after purchasing an additional 14,000 shares during the last quarter. Comerica Bank lifted its holdings in shares of Corbus Pharmaceuticals by 20,000,000.0% in the 1st quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company's stock worth $1,062,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $1,007,000. 64.64% of the stock is owned by institutional investors.

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.