Corbus Pharmaceuticals’ (CRBP) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer restated their outperform rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBPFree Report) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $80.00 price target on the biopharmaceutical company’s stock.

Several other analysts have also commented on the stock. B. Riley assumed coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They issued a buy rating and a $85.00 price target on the stock. StockNews.com lowered shares of Corbus Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, June 4th. Finally, Royal Bank of Canada increased their price target on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the company an outperform rating in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $73.25.

Check Out Our Latest Report on CRBP

Corbus Pharmaceuticals Trading Up 0.8 %

Shares of CRBP opened at $51.49 on Wednesday. The firm’s 50-day moving average is $45.00 and its two-hundred day moving average is $33.06. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $55.41. The firm has a market capitalization of $550.43 million, a P/E ratio of -7.40 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.26. Analysts predict that Corbus Pharmaceuticals will post -5.11 EPS for the current year.

Insider Activity at Corbus Pharmaceuticals

In related news, CEO Yuval Cohen sold 11,103 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $46.02, for a total transaction of $510,960.06. Following the transaction, the chief executive officer now owns 84,400 shares of the company’s stock, valued at $3,884,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Yuval Cohen sold 11,103 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $46.02, for a total transaction of $510,960.06. Following the transaction, the chief executive officer now owns 84,400 shares of the company’s stock, valued at $3,884,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sean F. Moran sold 1,958 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the transaction, the chief financial officer now directly owns 48,605 shares in the company, valued at approximately $2,047,242.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,733 shares of company stock valued at $2,530,799. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after purchasing an additional 257,808 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Corbus Pharmaceuticals during the first quarter worth approximately $7,554,000. Janus Henderson Group PLC purchased a new position in Corbus Pharmaceuticals during the first quarter worth approximately $13,363,000. Ikarian Capital LLC raised its stake in Corbus Pharmaceuticals by 185.5% during the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after purchasing an additional 363,372 shares during the period. Finally, Altitude Crest Partners Inc. purchased a new position in Corbus Pharmaceuticals during the first quarter worth approximately $4,069,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

(Get Free Report)

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.

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