Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Reaffirmed by HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued on Monday, Marketbeat.com reports. They currently have a $80.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 38.65% from the stock’s current price. HC Wainwright also issued estimates for Corbus Pharmaceuticals’ Q2 2024 earnings at ($1.27) EPS, Q3 2024 earnings at ($1.32) EPS, Q4 2024 earnings at ($1.36) EPS, FY2024 earnings at ($4.86) EPS, FY2025 earnings at ($4.33) EPS, FY2026 earnings at ($4.60) EPS, FY2027 earnings at ($5.49) EPS and FY2028 earnings at ($6.56) EPS.

CRBP has been the subject of several other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Corbus Pharmaceuticals in a research note on Wednesday, July 10th. StockNews.com cut shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. B. Riley started coverage on Corbus Pharmaceuticals in a research note on Wednesday, June 26th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.60.

Corbus Pharmaceuticals Trading Down 1.0 %

Shares of CRBP stock opened at $57.70 on Monday. The firm’s 50 day moving average is $48.23 and its 200 day moving average is $36.65. The stock has a market capitalization of $616.64 million, a P/E ratio of -8.29 and a beta of 2.59. Corbus Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $61.18.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.26. On average, equities analysts predict that Corbus Pharmaceuticals will post -5.11 EPS for the current year.

Insider Transactions at Corbus Pharmaceuticals

In related news, CFO Sean F. Moran sold 1,958 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total value of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares in the company, valued at approximately $2,047,242.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Sean F. Moran sold 1,958 shares of Corbus Pharmaceuticals stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total value of $82,470.96. Following the transaction, the chief financial officer now owns 48,605 shares in the company, valued at approximately $2,047,242.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Yuval Cohen sold 11,103 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $46.02, for a total transaction of $510,960.06. Following the completion of the sale, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at $3,884,088. The disclosure for this sale can be found here. In the last three months, insiders sold 51,733 shares of company stock worth $2,530,799. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Corbus Pharmaceuticals in the first quarter worth approximately $976,000. Altitude Crest Partners Inc. purchased a new position in shares of Corbus Pharmaceuticals in the first quarter valued at about $4,069,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corbus Pharmaceuticals during the first quarter valued at about $7,554,000. Assenagon Asset Management S.A. purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $10,181,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Corbus Pharmaceuticals during the first quarter worth about $13,363,000. 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.