Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target Cut to $40.00 by Analysts at B. Riley

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective cut by equities research analysts at B. Riley from $85.00 to $40.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. B. Riley’s price target suggests a potential upside of 105.02% from the stock’s current price.

CRBP has been the topic of several other reports. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of Corbus Pharmaceuticals in a research note on Friday. Oppenheimer raised their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wedbush dropped their price target on Corbus Pharmaceuticals from $85.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Mizuho restated an “outperform” rating and set a $74.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Corbus Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $65.86.

Corbus Pharmaceuticals Stock Performance

NASDAQ CRBP opened at $19.51 on Friday. Corbus Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $61.90. The business’s fifty day moving average is $55.03 and its two-hundred day moving average is $47.01. The stock has a market capitalization of $208.50 million, a P/E ratio of -2.80 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.29. On average, research analysts forecast that Corbus Pharmaceuticals will post -3.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRBP. Bank of New York Mellon Corp acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at about $1,368,000. Janus Henderson Group PLC acquired a new stake in Corbus Pharmaceuticals in the first quarter valued at approximately $13,363,000. Price T Rowe Associates Inc. MD bought a new stake in Corbus Pharmaceuticals in the first quarter worth approximately $7,554,000. Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth $716,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Corbus Pharmaceuticals during the 1st quarter valued at $976,000. 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.