Corbus Pharmaceuticals (NASDAQ:CRBP) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report released on Monday, Benzinga reports. They currently have a $80.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the stock. Mizuho reiterated an outperform rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. StockNews.com lowered Corbus Pharmaceuticals from a hold rating to a sell rating in a research note on Saturday, August 10th. Lifesci Capital upgraded Corbus Pharmaceuticals to a strong-buy rating in a research report on Wednesday, August 21st. Oppenheimer upped their price target on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. Finally, Wedbush cut their price objective on Corbus Pharmaceuticals from $85.00 to $51.00 and set an outperform rating for the company in a report on Friday, September 20th. One equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $65.86.

Corbus Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ:CRBP opened at $21.49 on Monday. The business has a 50 day moving average price of $52.63 and a 200 day moving average price of $46.59. The company has a market cap of $229.66 million, a price-to-earnings ratio of -3.09 and a beta of 2.56. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29. Analysts anticipate that Corbus Pharmaceuticals will post -3.77 EPS for the current year.

Insider Activity at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the stock in a transaction on Friday, September 20th. The stock was purchased at an average price of $20.01 per share, for a total transaction of $7,003,500.00. Following the transaction, the insider now owns 2,375,000 shares of the company’s stock, valued at approximately $47,523,750. The acquisition was disclosed in a filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Corbus Pharmaceuticals by 100.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock valued at $956,000 after acquiring an additional 10,604 shares during the period. Darwin Global Management Ltd. bought a new stake in Corbus Pharmaceuticals during the 2nd quarter worth about $14,267,000. Integral Health Asset Management LLC acquired a new position in Corbus Pharmaceuticals during the 2nd quarter valued at about $4,525,000. HighVista Strategies LLC bought a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $1,755,000. Finally, ClariVest Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $725,000. 64.64% of the stock is currently 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.