Corbus Pharmaceuticals (NASDAQ:CRBP) PT Lowered to $51.00 at Wedbush

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective trimmed by Wedbush from $85.00 to $51.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on CRBP. Royal Bank of Canada reissued an outperform rating and set a $82.00 price target on shares of Corbus Pharmaceuticals in a report on Friday. HC Wainwright reissued a buy rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a report on Tuesday, August 6th. B. Riley assumed coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They set a buy rating and a $85.00 price objective for the company. Lifesci Capital raised shares of Corbus Pharmaceuticals to a strong-buy rating in a report on Wednesday, August 21st. Finally, Oppenheimer raised their target price on shares of Corbus Pharmaceuticals from $80.00 to $88.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $65.86.

Corbus Pharmaceuticals Stock Down 62.3 %

CRBP stock opened at $19.51 on Friday. The business’s 50-day moving average price is $55.03 and its 200-day moving average price is $47.11. The stock has a market cap of $208.50 million, a P/E ratio of -2.80 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 posted 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, equities research analysts expect that Corbus Pharmaceuticals will post -3.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers purchased a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at about $638,000. Acadian Asset Management LLC bought a new stake in Corbus Pharmaceuticals during the second quarter worth approximately $716,000. ClariVest Asset Management LLC purchased a new stake in Corbus Pharmaceuticals during the second quarter valued at approximately $725,000. Victory Capital Management Inc. bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at approximately $862,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Corbus Pharmaceuticals by 100.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock worth $956,000 after purchasing an additional 10,604 shares during the period. Institutional investors own 64.64% of the company’s stock.

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.