Corbus Pharmaceuticals (NASDAQ:CRBP) Given “Outperform” Rating at Oppenheimer

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a research report issued on Wednesday, Benzinga reports. They currently have a $80.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price objective would suggest a potential upside of 56.10% from the stock’s previous close.

Several other research analysts also recently commented on CRBP. StockNews.com downgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th. Royal Bank of Canada raised their price target on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Finally, B. Riley assumed coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a “buy” rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.25.

Corbus Pharmaceuticals Price Performance

Shares of CRBP traded up $0.17 during midday trading on Wednesday, hitting $51.25. The stock had a trading volume of 168,446 shares, compared to its average volume of 582,926. Corbus Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $55.41. The firm has a market cap of $547.86 million, a PE ratio of -7.44 and a beta of 2.59. The stock’s 50 day moving average is $45.00 and its 200 day moving average is $33.06.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.26. As a group, equities research analysts expect that Corbus Pharmaceuticals will post -5.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yuval Cohen sold 29,317 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $50.17, for a total value of $1,470,833.89. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares in the company, valued at approximately $4,234,348. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 29,317 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares in the company, valued at approximately $4,234,348. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sean F. Moran sold 9,355 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $49.87, for a total transaction of $466,533.85. Following the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,423,931.35. The disclosure for this sale can be found here. Insiders sold 51,733 shares of company stock worth $2,530,799 in the last three months. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Ikarian Capital LLC increased its holdings in shares of Corbus Pharmaceuticals by 185.5% during the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock valued at $21,946,000 after purchasing an additional 363,372 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Corbus Pharmaceuticals by 143.7% during the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after purchasing an additional 257,808 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Corbus Pharmaceuticals in the 1st quarter worth $13,363,000. Assenagon Asset Management S.A. purchased a new stake in Corbus Pharmaceuticals in the 1st quarter worth $10,181,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Corbus Pharmaceuticals in the 1st quarter worth $7,554,000. 64.64% of the stock is owned by hedge funds and other institutional investors.

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.