Corbus Pharmaceuticals (NASDAQ:CRBP) Given New $40.00 Price Target at B. Riley

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price target cut by B. Riley from $85.00 to $40.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Oppenheimer boosted their target price on Corbus Pharmaceuticals from $80.00 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. HC Wainwright restated a buy rating and set a $80.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday, August 6th. Mizuho restated an outperform rating and set a $74.00 target price on shares of Corbus Pharmaceuticals in a research report on Friday. StockNews.com downgraded Corbus Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 10th. Finally, Wedbush dropped their price objective on Corbus Pharmaceuticals from $85.00 to $51.00 and set an outperform rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $65.86.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock opened at $19.51 on Friday. The firm has a market cap of $208.50 million, a P/E ratio of -2.80 and a beta of 2.56. The business’s fifty day moving average is $55.03 and its two-hundred day moving average is $46.93. Corbus Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.29. On average, equities research analysts predict that Corbus Pharmaceuticals will post -3.77 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Large investors have recently modified their holdings of the business. Rhumbline Advisers bought a new stake in shares of Corbus Pharmaceuticals in the second quarter worth about $638,000. Acadian Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $716,000. ClariVest Asset Management LLC acquired a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $725,000. Victory Capital Management Inc. acquired a new position in shares of Corbus Pharmaceuticals during the second quarter worth about $862,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Corbus Pharmaceuticals by 100.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock worth $956,000 after buying an additional 10,604 shares during the period. 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.