William Blair Begins Coverage on Corbus Pharmaceuticals (NASDAQ:CRBP)

Analysts at William Blair began coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report released on Friday, Marketbeat reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on CRBP. Wedbush reissued an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. Piper Sandler assumed coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price on the stock. Finally, StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corbus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $61.38.

Corbus Pharmaceuticals Stock Performance

CRBP opened at $7.55 on Friday. The firm has a market cap of $91.95 million, a P/E ratio of -1.61 and a beta of 2.63. Corbus Pharmaceuticals has a 52-week low of $7.23 and a 52-week high of $61.90. The business’s fifty day moving average is $10.60 and its 200-day moving average is $22.25.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of CRBP. Vestcor Inc bought a new position in Corbus Pharmaceuticals in the third quarter valued at about $64,000. Wells Fargo & Company MN raised its position in shares of Corbus Pharmaceuticals by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 2,195 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth about $84,000. Deutsche Bank AG raised its position in shares of Corbus Pharmaceuticals by 46.8% during the fourth quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 2,616 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Corbus Pharmaceuticals during the fourth quarter worth about $101,000. 64.64% of the stock is currently owned by institutional investors.

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.