Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Stock Has Average Price Target of $41.00

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.00.

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Friday, July 17th. Mizuho set a $33.00 price objective on shares of Corbus Pharmaceuticals in a research report on Thursday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, September 14th. Oppenheimer lowered their target price on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen cut Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th.

Corbus Pharmaceuticals Trading Down 1.2%

Shares of CRBP stock opened at $5.78 on Wednesday. Corbus Pharmaceuticals has a twelve month low of $5.65 and a twelve month high of $20.56. The stock has a market cap of $107.91 million, a P/E ratio of -0.93 and a beta of 2.63. The stock has a 50 day moving average of $9.04 and a 200 day moving average of $9.22.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.55). On average, research analysts predict that Corbus Pharmaceuticals will post -5.62 earnings per share for the current fiscal year.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CFO Sean Moran sold 12,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $10.08, for a total transaction of $120,960.00. Following the transaction, the chief financial officer directly owned 84,694 shares of the company’s stock, valued at $853,715.52. This trade represents a 12.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nishant Saxena acquired 2,600 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $9.63 per share, for a total transaction of $25,038.00. Following the completion of the acquisition, the insider owned 77,900 shares of the company’s stock, valued at approximately $750,177. This represents a 3.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 31,000 shares of company stock valued at $308,000 in the last three months. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Corbus Pharmaceuticals by 53,592.3% in the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 13,934 shares during the last quarter. Pale Fire Capital SE grew its stake in Corbus Pharmaceuticals by 14.5% during the 1st quarter. Pale Fire Capital SE now owns 21,350 shares of the biopharmaceutical company’s stock valued at $200,000 after acquiring an additional 2,700 shares in the last quarter. Engineers Gate Manager LP grew its stake in Corbus Pharmaceuticals by 109.9% during the 2nd quarter. Engineers Gate Manager LP now owns 29,800 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 15,600 shares in the last quarter. Royal Bank of Canada grew its stake in Corbus Pharmaceuticals by 81.2% during the 1st quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 13,401 shares in the last quarter. Finally, Rangeley Capital LLC purchased a new position in Corbus Pharmaceuticals in the 1st quarter worth approximately $421,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for serious diseases, with an emphasis on oncology and immunology. The company’s research programs are designed to address biological pathways involved in tumor growth, disease progression and immune regulation.

Corbus’ oncology pipeline includes CRB-701, an antibody-drug conjugate designed to target Nectin-4, and CRB-601, an investigational monoclonal antibody that targets integrins involved in tumor biology and the tumor microenvironment.