Corbus Pharmaceuticals’ (CRBP) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note issued to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $82.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the company. Wedbush began coverage on Corbus Pharmaceuticals in a report on Tuesday, July 30th. They issued an outperform rating and a $85.00 target price for the company. B. Riley began coverage on Corbus Pharmaceuticals in a research report on Wednesday, June 26th. They set a buy rating and a $85.00 target price for the company. Lifesci Capital raised shares of Corbus Pharmaceuticals to a strong-buy rating in a report on Wednesday, August 21st. StockNews.com downgraded shares of Corbus Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 10th. Finally, HC Wainwright reiterated a buy rating and issued a $80.00 target price on shares of Corbus Pharmaceuticals in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Corbus Pharmaceuticals has a consensus rating of Moderate Buy and a consensus price target of $65.86.

Corbus Pharmaceuticals Trading Down 62.3 %

NASDAQ CRBP opened at $19.51 on Friday. The business has a fifty day simple moving average of $55.03 and a 200 day simple moving average of $47.11. Corbus Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $61.90. The firm has a market capitalization of $208.50 million, a P/E ratio of -2.80 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.29. As a group, sell-side analysts predict that Corbus Pharmaceuticals will post -3.77 EPS for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors have recently modified their holdings of CRBP. The Manufacturers Life Insurance Company raised its holdings in Corbus Pharmaceuticals by 100.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,131 shares of the biopharmaceutical company’s stock valued at $956,000 after acquiring an additional 10,604 shares during the period. Darwin Global Management Ltd. bought a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $14,267,000. Integral Health Asset Management LLC purchased a new stake in Corbus Pharmaceuticals during the 2nd quarter worth about $4,525,000. HighVista Strategies LLC bought a new position in Corbus Pharmaceuticals in the 2nd quarter worth about $1,755,000. Finally, ClariVest Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the 2nd quarter valued at about $725,000. 64.64% of the stock is currently owned by hedge funds and other 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.