Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Gets Price Target Trim from Mizuho

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price target cut by equities research analysts at Mizuho from $24.00 to $23.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Mizuho‘s price target suggests a potential upside of 475.00% from the company’s current price.

A number of other research analysts also recently issued reports on CRBP. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Corbus Pharmaceuticals in a research report on Monday, September 14th. Oppenheimer reiterated an “outperform” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.14.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $4.00 on Thursday. Corbus Pharmaceuticals has a twelve month low of $2.81 and a twelve month high of $12.88. The business has a fifty day moving average of $5.99 and a 200-day moving average of $8.40.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Tuesday, November 10th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.54). On average, research analysts expect that Corbus Pharmaceuticals will post -5.89 EPS for the current year.

Insider Activity

In related news, major shareholder Cormorant Asset Management, Lp sold 425,000 shares of Corbus Pharmaceuticals stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $4.10, for a total transaction of $1,742,500.00. Following the completion of the sale, the insider directly owned 1,919,971 shares of the company’s stock, valued at $7,871,881.10. The trade was a 18.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. Orbimed Advisors LLC lifted its stake in Corbus Pharmaceuticals by 8.8% in the first quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock valued at $16,313,000 after buying an additional 140,000 shares during the period. Exome Asset Management LLC grew its position in shares of Corbus Pharmaceuticals by 67.8% during the 1st quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock worth $2,199,000 after buying an additional 94,593 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Corbus Pharmaceuticals by 76.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock worth $1,281,000 after buying an additional 59,248 shares during the period. Seven Fleet Capital Management LP grew its position in shares of Corbus Pharmaceuticals by 51.0% during the 1st quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock worth $805,000 after buying an additional 28,937 shares during the period. Finally, Doliver Advisors LP bought a new stake in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $518,000. Institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc. is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research is centered on therapies designed to modulate immune-cell activity and target biological pathways involved in cancer and inflammatory disease. Corbus’ oncology pipeline has included soquelitinib, formerly known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK) being evaluated for its potential to treat T-cell lymphomas and other cancers.