Corbus Pharmaceuticals’ (CRBP) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note issued to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $75.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $80.00. HC Wainwright also issued estimates for Corbus Pharmaceuticals’ FY2029 earnings at ($3.56) EPS.

Several other equities research analysts have also recently commented on CRBP. StockNews.com raised shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Monday, January 13th. Wedbush reissued an “outperform” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. Finally, Piper Sandler initiated coverage on Corbus Pharmaceuticals in a research report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.38.

Corbus Pharmaceuticals Stock Up 2.7 %

CRBP opened at $9.02 on Monday. The stock has a market cap of $109.86 million, a P/E ratio of -1.92 and a beta of 2.63. Corbus Pharmaceuticals has a 12 month low of $8.50 and a 12 month high of $61.90. The company has a fifty day simple moving average of $12.33 and a 200 day simple moving average of $26.33.

Institutional Trading of Corbus Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vestcor Inc acquired a new position in shares of Corbus Pharmaceuticals during the 3rd quarter worth about $64,000. Avanza Fonder AB bought a new position in Corbus Pharmaceuticals during the fourth quarter worth about $84,000. JPMorgan Chase & Co. increased its position in Corbus Pharmaceuticals by 27.0% during the third quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,172 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Corbus Pharmaceuticals in the third quarter valued at approximately $123,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Corbus Pharmaceuticals in the third quarter valued at approximately $151,000. 64.64% of the stock is owned by 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.