Corbus Pharmaceuticals (NASDAQ:CRBP) Receives “Outperform” Rating from Mizuho

Mizuho reaffirmed their outperform rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $74.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on CRBP. Oppenheimer upped their price objective on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated an outperform rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research note on Friday. StockNews.com lowered shares of Corbus Pharmaceuticals from a hold rating to a sell rating in a research note on Saturday, August 10th. Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a strong-buy rating in a research report on Wednesday, August 21st. Finally, B. Riley initiated coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a buy rating and a $85.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $65.86.

Corbus Pharmaceuticals Stock Down 2.7 %

Shares of NASDAQ CRBP opened at $18.99 on Friday. Corbus Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $61.90. The business has a 50 day moving average price of $54.22 and a two-hundred day moving average price of $46.96. The firm has a market cap of $202.95 million, a PE ratio of -2.73 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly 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. On average, analysts anticipate that Corbus Pharmaceuticals will post -3.77 earnings per share for the current year.

Institutional Trading of Corbus Pharmaceuticals

Several hedge funds have recently bought and sold shares of CRBP. Rhumbline Advisers bought a new position in Corbus Pharmaceuticals in the 2nd quarter worth approximately $638,000. Acadian Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals in the second quarter worth $716,000. ClariVest Asset Management LLC bought a new position in shares of Corbus Pharmaceuticals in the second quarter worth $725,000. Victory Capital Management Inc. acquired a new position in shares of Corbus Pharmaceuticals during the second quarter valued at $862,000. Finally, The Manufacturers Life Insurance Company raised 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 purchasing an additional 10,604 shares in the last quarter. 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.