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

Research analysts at William Blair started coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report issued on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on CRBP. 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. Piper Sandler initiated coverage on Corbus Pharmaceuticals in a research note on Monday, December 2nd. They set an “overweight” rating and a $35.00 target price for the company. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a research note on Monday, January 13th. Finally, Wedbush reissued an “outperform” rating and issued a $51.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $61.38.

Corbus Pharmaceuticals Price Performance

NASDAQ CRBP opened at $7.55 on Friday. The business has a 50 day simple moving average of $10.60 and a 200 day simple moving average of $22.25. Corbus Pharmaceuticals has a one year low of $7.23 and a one year high of $61.90. The stock has a market capitalization of $91.95 million, a P/E ratio of -1.61 and a beta of 2.63.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently bought and sold shares of CRBP. Millennium Management LLC grew its holdings 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 buying an additional 263,902 shares in the last quarter. Orbimed Advisors LLC grew its holdings 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 buying an additional 259,735 shares in the last quarter. Altium Capital Management LLC grew its holdings 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 buying an additional 190,000 shares in the last quarter. State Street Corp grew its holdings 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 buying an additional 153,243 shares in the last quarter. Finally, Prosight Management LP grew its holdings 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 buying an additional 140,000 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

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.