Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Consensus Rating of “Buy” by Brokerages

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned an average rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $61.38.

A number of brokerages have recently commented on CRBP. Wedbush reissued an “outperform” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. Piper Sandler began coverage on Corbus Pharmaceuticals in a report on Monday, December 2nd. They set an “overweight” rating and a $35.00 price target on the stock. William Blair started coverage on Corbus Pharmaceuticals in a report on Friday. They set an “outperform” rating on the stock. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research note on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of Corbus Pharmaceuticals in a research note on Tuesday, February 18th.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 1,172 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Corbus Pharmaceuticals by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,731 shares of the biopharmaceutical company’s stock valued at $469,000 after purchasing an additional 1,600 shares during the period. Wells Fargo & Company MN boosted its position in shares of Corbus Pharmaceuticals by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 2,195 shares during the period. FMR LLC boosted its position in shares of Corbus Pharmaceuticals by 33.0% in the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 2,486 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Corbus Pharmaceuticals by 46.8% in the 4th quarter. Deutsche Bank AG now owns 8,206 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 2,616 shares during the period. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP opened at $6.96 on Tuesday. The firm has a market capitalization of $84.77 million, a price-to-earnings ratio of -1.48 and a beta of 2.63. Corbus Pharmaceuticals has a one year low of $6.78 and a one year high of $61.90. The stock’s fifty day moving average is $10.47 and its 200-day moving average is $21.71.

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.