Corbus Pharmaceuticals (NASDAQ:CRBP) Given New $40.00 Price Target at B. Riley

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective lowered by B. Riley from $85.00 to $40.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

CRBP has been the topic of several other research reports. Mizuho reaffirmed an outperform rating and set a $74.00 price objective on shares of Corbus Pharmaceuticals in a report on Friday. StockNews.com downgraded Corbus Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 10th. Wedbush reduced their price objective on Corbus Pharmaceuticals from $85.00 to $51.00 and set an outperform rating on the stock in a report on Friday. Royal Bank of Canada reissued an outperform rating and issued a $82.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday. Finally, Lifesci Capital raised Corbus Pharmaceuticals to a strong-buy rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus price target of $65.86.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $19.51 on Friday. The firm has a market cap of $208.50 million, a PE ratio of -2.80 and a beta of 2.56. Corbus Pharmaceuticals has a one year low of $3.03 and a one year high of $61.90. The stock’s 50 day simple moving average is $55.03 and its 200 day simple moving average is $47.11.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29. As a group, equities analysts expect that Corbus Pharmaceuticals will post -3.77 earnings per share for the current year.

Institutional Trading of Corbus Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CRBP. Ikarian Capital LLC increased its holdings in Corbus Pharmaceuticals by 185.5% during the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after purchasing an additional 363,372 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Corbus Pharmaceuticals in the 1st quarter valued at about $13,363,000. Darwin Global Management Ltd. bought a new position in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $14,267,000. Vanguard Group Inc. lifted its stake in Corbus Pharmaceuticals by 143.7% in 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Corbus Pharmaceuticals in the 1st quarter valued at about $7,554,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

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.