Corbus Pharmaceuticals’ (CRBP) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a report issued on Monday,Benzinga reports. The firm currently has a $75.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $80.00. HC Wainwright also issued estimates for Corbus Pharmaceuticals’ FY2029 earnings at ($3.56) EPS.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler started coverage on shares of Corbus Pharmaceuticals in a research 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 Monday, January 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $51.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.38.

Corbus Pharmaceuticals Stock Up 2.7 %

Shares of NASDAQ:CRBP opened at $9.02 on Monday. Corbus Pharmaceuticals has a 12-month low of $8.50 and a 12-month high of $61.90. The business has a 50 day moving average of $12.33 and a 200-day moving average of $26.33. The stock has a market cap of $109.86 million, a PE ratio of -1.92 and a beta of 2.63.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestcor Inc acquired a new position in shares of Corbus Pharmaceuticals during the third quarter worth $64,000. Avanza Fonder AB bought a new stake in Corbus Pharmaceuticals during the 4th quarter worth $84,000. JPMorgan Chase & Co. increased its holdings in Corbus Pharmaceuticals by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,172 shares in the last quarter. MetLife Investment Management LLC bought a new position in Corbus Pharmaceuticals in the third quarter valued at about $123,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at about $151,000. Institutional investors 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.