Corbus Pharmaceuticals (NASDAQ:CRBP) Given New $44.00 Price Target at Mizuho

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective increased by stock analysts at Mizuho from $40.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Mizuho’s target price points to a potential upside of 282.28% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Guggenheim reissued a “buy” rating and set a $45.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday, May 13th. Wall Street Zen raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Jefferies Financial Group cut their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Oppenheimer dropped their target price on shares of Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $42.89.

Corbus Pharmaceuticals Stock Up 18.3%

NASDAQ CRBP opened at $11.51 on Friday. The stock has a market capitalization of $213.28 million, a P/E ratio of -1.98 and a beta of 2.68. Corbus Pharmaceuticals has a 52-week low of $6.72 and a 52-week high of $20.56. The firm has a 50-day moving average price of $10.00 and a 200 day moving average price of $9.43.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.03. On average, equities research analysts expect that Corbus Pharmaceuticals will post -4.83 earnings per share for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Several large investors have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of Corbus Pharmaceuticals by 53,592.3% in the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 13,934 shares during the last quarter. Royal Bank of Canada grew its position in shares of Corbus Pharmaceuticals by 81.2% in the first quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock valued at $281,000 after purchasing an additional 13,401 shares during the last quarter. Exome Asset Management LLC boosted its position in Corbus Pharmaceuticals by 67.8% during the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock worth $2,199,000 after acquiring an additional 94,593 shares during the last quarter. Orbimed Advisors LLC boosted its position in Corbus Pharmaceuticals by 8.8% during the first quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after acquiring an additional 140,000 shares during the last quarter. Finally, Rangeley Capital LLC acquired a new stake in Corbus Pharmaceuticals during the first quarter worth approximately $421,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.