Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Recommendation of “Buy” by Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $63.57.

Several research analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target for the company. William Blair assumed coverage on shares of Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th.

Corbus Pharmaceuticals Price Performance

CRBP opened at $6.79 on Tuesday. Corbus Pharmaceuticals has a twelve month low of $6.54 and a twelve month high of $61.90. The company has a 50-day moving average price of $9.87 and a 200 day moving average price of $19.90. The company has a market cap of $82.70 million, a PE ratio of -1.45 and a beta of 2.63.

Institutional Trading of Corbus Pharmaceuticals

Several hedge funds have recently made changes to their positions in CRBP. Millennium Management LLC grew its stake in shares of Corbus Pharmaceuticals by 215.0% in the 4th 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 period. Orbimed Advisors LLC grew its stake in shares of Corbus Pharmaceuticals by 28.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock valued at $13,833,000 after buying an additional 259,735 shares during the period. Altium Capital Management LLC grew its stake in shares of Corbus Pharmaceuticals by 97.4% in the 4th quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company’s stock valued at $4,543,000 after buying an additional 190,000 shares during the period. State Street Corp boosted its position in shares of Corbus Pharmaceuticals by 34.6% during the 3rd quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after purchasing an additional 153,243 shares during the period. Finally, Prosight Management LP boosted its position in shares of Corbus Pharmaceuticals by 107.7% during the 4th quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after purchasing an additional 140,000 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.

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.