Corbus Pharmaceuticals (NASDAQ:CRBP) Given New $60.00 Price Target at Oppenheimer

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) had its target price boosted by analysts at Oppenheimer from $58.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the biopharmaceutical company's stock. Oppenheimer's price target would indicate a potential upside of 41.54% from the stock's current price.

A number of other equities analysts have also weighed in on CRBP. StockNews.com upgraded shares of Corbus Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Wednesday, February 28th. Jefferies Financial Group raised Corbus Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $4.00 to $46.00 in a report on Wednesday, March 6th.

Corbus Pharmaceuticals Trading Up 6.6 %

Shares of CRBP stock traded up $2.62 during trading hours on Wednesday, reaching $42.39. The company's stock had a trading volume of 779,160 shares, compared to its average volume of 722,211. The firm's fifty day simple moving average is $38.31 and its 200 day simple moving average is $20.17. The stock has a market capitalization of $445.52 million, a P/E ratio of -4.15 and a beta of 2.46. Corbus Pharmaceuticals has a one year low of $3.03 and a one year high of $49.87.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.36) by $0.55. As a group, equities research analysts forecast that Corbus Pharmaceuticals will post -5.21 earnings per share for the current fiscal year.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 250,000 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were acquired at an average cost of $40.05 per share, with a total value of $10,012,500.00. Following the completion of the acquisition, the insider now directly owns 1,725,000 shares in the company, valued at $69,086,250. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company's stock.

Institutional Trading of Corbus Pharmaceuticals

An institutional investor recently bought a new position in Corbus Pharmaceuticals stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,880 shares of the biopharmaceutical company's stock, valued at approximately $976,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.24% of Corbus Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 64.64% of the stock is owned by institutional investors and hedge funds.

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.