Corbus Pharmaceuticals’ (CRBP) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report sent to investors on Monday morning, MarketBeat reports. HC Wainwright currently has a $35.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the company. Wall Street Zen downgraded Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Friday, July 17th. Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Wedbush lowered their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, Oppenheimer dropped their price objective on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $7.26 on Monday. The company has a fifty day moving average of $9.65 and a 200-day moving average of $9.43. The company has a market capitalization of $135.54 million, a PE ratio of -1.17 and a beta of 2.63. Corbus Pharmaceuticals has a 52-week low of $6.32 and a 52-week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). On average, equities analysts forecast that Corbus Pharmaceuticals will post -5.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Nishant C. Saxena bought 2,600 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $9.63 per share, with a total value of $25,038.00. Following the transaction, the insider directly owned 77,900 shares in the company, valued at approximately $750,177. This trade represents a 3.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sean F. Moran sold 12,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $120,960.00. Following the transaction, the chief financial officer directly owned 84,694 shares in the company, valued at $853,715.52. The trade was a 12.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,000 shares of company stock valued at $308,000 over the last 90 days. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Orbimed Advisors LLC lifted its stake in shares of Corbus Pharmaceuticals by 8.8% in 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 period. Exome Asset Management LLC boosted its holdings in Corbus Pharmaceuticals by 67.8% in the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock valued at $2,199,000 after acquiring an additional 94,593 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Corbus Pharmaceuticals by 76.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,281,000 after purchasing an additional 59,248 shares during the period. Seven Fleet Capital Management LP increased its position in 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 valued at $805,000 after purchasing an additional 28,937 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Corbus Pharmaceuticals during the 2nd quarter worth approximately $425,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research programs are designed to target biological pathways involved in tumor growth, immune regulation and tissue fibrosis.

Corbus’s oncology pipeline includes CRB-701, an antibody-drug conjugate designed to target Nectin-4, a protein expressed on several solid tumors. The company is also developing CRB-601, an investigational monoclonal antibody directed at the alpha v beta 6 integrin, a target associated with tumor biology and fibrotic disease.