Jefferies Financial Group Lowers Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target to $53.00

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price target lowered by equities research analysts at Jefferies Financial Group from $70.00 to $53.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on CRBP. StockNews.com upgraded shares of Corbus Pharmaceuticals to a “sell” rating in a research note on Thursday, March 6th. William Blair began coverage on shares of Corbus Pharmaceuticals in a report on Friday, February 28th. They issued an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, February 18th. Finally, Piper Sandler started coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Corbus Pharmaceuticals Stock Up 1.5 %

CRBP traded up $0.11 during trading on Tuesday, hitting $6.90. The company had a trading volume of 156,682 shares, compared to its average volume of 243,226. The firm’s 50-day moving average price is $9.87 and its 200 day moving average price is $19.90. The company has a market capitalization of $83.97 million, a PE ratio of -1.46 and a beta of 2.63. Corbus Pharmaceuticals has a one year low of $6.54 and a one year high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.24. Sell-side analysts forecast that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in Corbus Pharmaceuticals by 29.9% during the 3rd quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 5,700 shares during the last quarter. HealthInvest Partners AB lifted its stake in shares of Corbus Pharmaceuticals by 77.9% in the third quarter. HealthInvest Partners AB now owns 69,573 shares of the biopharmaceutical company’s stock worth $1,435,000 after acquiring an additional 30,473 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Corbus Pharmaceuticals by 224.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,643 shares of the biopharmaceutical company’s stock valued at $1,932,000 after acquiring an additional 64,800 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Corbus Pharmaceuticals by 7.6% during 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. Finally, FMR LLC raised its holdings in Corbus Pharmaceuticals by 33.0% during the 3rd quarter. FMR LLC now owns 10,028 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 2,486 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.