Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $65.86 Consensus PT from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $65.86.

A number of analysts recently weighed in on CRBP shares. B. Riley reduced their price objective on shares of Corbus Pharmaceuticals from $85.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th. StockNews.com lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Mizuho reissued an “outperform” rating and issued a $74.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 20th.

Insider Transactions at Corbus Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp acquired 350,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average price of $20.01 per share, with a total value of $7,003,500.00. Following the completion of the transaction, the insider now directly owns 2,375,000 shares in the company, valued at $47,523,750. This trade represents a 17.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in Corbus Pharmaceuticals by 7.6% during the third 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 in the last quarter. FMR LLC boosted its position in Corbus Pharmaceuticals by 33.0% during the third 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 in the last quarter. Vestcor Inc purchased a new stake in Corbus Pharmaceuticals in the third quarter valued at about $64,000. Victory Capital Management Inc. raised its stake in Corbus Pharmaceuticals by 29.9% in the third quarter. Victory Capital Management Inc. now owns 24,760 shares of the biopharmaceutical company’s stock valued at $511,000 after buying an additional 5,700 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in Corbus Pharmaceuticals in the third quarter valued at about $123,000. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Up 0.2 %

Shares of NASDAQ:CRBP opened at $17.98 on Friday. Corbus Pharmaceuticals has a 12 month low of $4.05 and a 12 month high of $61.90. The company has a 50-day moving average price of $19.55 and a 200 day moving average price of $40.14. The company has a market cap of $218.98 million, a price-to-earnings ratio of -3.83 and a beta of 2.56.

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.