HC Wainwright Reiterates Buy Rating for Corbus Pharmaceuticals (NASDAQ:CRBP)

HC Wainwright restated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $50.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $75.00.

A number of other research analysts have also recently issued reports on CRBP. William Blair started coverage on shares of Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an “outperform” rating for the company. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 target price for the company. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research report on Thursday, March 6th. Finally, Jefferies Financial Group lowered their price target on shares of Corbus Pharmaceuticals from $70.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Corbus Pharmaceuticals Stock Up 0.4 %

NASDAQ CRBP opened at $6.91 on Wednesday. Corbus Pharmaceuticals has a 52-week low of $6.54 and a 52-week high of $61.90. The stock has a market capitalization of $84.16 million, a P/E ratio of -1.47 and a beta of 2.63. The firm has a 50-day moving average price of $9.67 and a 200 day moving average price of $19.44.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. On average, equities research analysts expect that Corbus Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds have recently bought and sold shares of CRBP. Millennium Management LLC boosted its position in Corbus Pharmaceuticals by 215.0% during the fourth quarter. Millennium Management LLC now owns 386,653 shares of the biopharmaceutical company’s stock worth $4,563,000 after acquiring an additional 263,902 shares during the last quarter. Orbimed Advisors LLC boosted its position in Corbus Pharmaceuticals by 28.5% during the fourth quarter. Orbimed Advisors LLC now owns 1,172,287 shares of the biopharmaceutical company’s stock worth $13,833,000 after acquiring an additional 259,735 shares during the last quarter. Altium Capital Management LLC boosted its position in Corbus Pharmaceuticals by 97.4% during the fourth quarter. Altium Capital Management LLC now owns 385,000 shares of the biopharmaceutical company’s stock worth $4,543,000 after acquiring an additional 190,000 shares during the last quarter. State Street Corp boosted its position in Corbus Pharmaceuticals by 34.6% during the third quarter. State Street Corp now owns 595,576 shares of the biopharmaceutical company’s stock worth $12,287,000 after acquiring an additional 153,243 shares during the last quarter. Finally, Prosight Management LP boosted its position in Corbus Pharmaceuticals by 107.7% during the fourth quarter. Prosight Management LP now owns 270,000 shares of the biopharmaceutical company’s stock worth $3,186,000 after acquiring an additional 140,000 shares during the last quarter. Institutional investors and hedge funds 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.