Corbus Pharmaceuticals (NASDAQ:CRBP) Given “Outperform” Rating at Oppenheimer

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a note issued to investors on Wednesday, Benzinga reports. They currently have a $80.00 price objective on the biopharmaceutical company’s stock. Oppenheimer’s target price suggests a potential upside of 56.10% from the company’s current price.

Several other analysts also recently commented on CRBP. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th. Royal Bank of Canada raised their target price on Corbus Pharmaceuticals from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Finally, B. Riley initiated coverage on Corbus Pharmaceuticals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $85.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.25.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock traded up $0.17 during mid-day trading on Wednesday, hitting $51.25. The company’s stock had a trading volume of 168,446 shares, compared to its average volume of 582,926. The company’s fifty day simple moving average is $45.00 and its 200-day simple moving average is $33.06. Corbus Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $55.41. The company has a market cap of $547.86 million, a PE ratio of -7.44 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data 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. On average, equities analysts anticipate that Corbus Pharmaceuticals will post -5.11 earnings per share for the current year.

Insider Transactions at Corbus Pharmaceuticals

In related news, CEO Yuval Cohen sold 29,317 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $50.17, for a total transaction of $1,470,833.89. Following the transaction, the chief executive officer now directly owns 84,400 shares in the company, valued at $4,234,348. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Yuval Cohen sold 29,317 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $50.17, for a total value of $1,470,833.89. Following the completion of the transaction, the chief executive officer now directly owns 84,400 shares of the company’s stock, valued at approximately $4,234,348. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sean F. Moran sold 1,958 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the transaction, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The disclosure for this sale can be found here. Insiders sold a total of 51,733 shares of company stock worth $2,530,799 in the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ikarian Capital LLC boosted its holdings in Corbus Pharmaceuticals by 185.5% in the 1st quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock valued at $21,946,000 after purchasing an additional 363,372 shares during the period. Vanguard Group Inc. boosted its holdings in Corbus Pharmaceuticals by 143.7% in the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after purchasing an additional 257,808 shares during the period. Janus Henderson Group PLC bought a new position in Corbus Pharmaceuticals in the 1st quarter valued at $13,363,000. Assenagon Asset Management S.A. bought a new position in Corbus Pharmaceuticals in the 1st quarter valued at $10,181,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Corbus Pharmaceuticals in the 1st quarter valued at $7,554,000. 64.64% of the stock is owned by institutional investors.

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.