Wedbush Trims Corbus Pharmaceuticals (NASDAQ:CRBP) Target Price to $51.00

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price target reduced by Wedbush from $85.00 to $51.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on CRBP. HC Wainwright reiterated a buy rating and issued a $80.00 price target on shares of Corbus Pharmaceuticals in a research note on Tuesday, August 6th. StockNews.com cut Corbus Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, August 10th. Royal Bank of Canada reaffirmed an outperform rating and set a $82.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday. B. Riley started coverage on shares of Corbus Pharmaceuticals in a report on Wednesday, June 26th. They issued a buy rating and a $85.00 target price on the stock. Finally, Lifesci Capital upgraded shares of Corbus Pharmaceuticals to a strong-buy rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $65.86.

Corbus Pharmaceuticals Stock Down 2.7 %

Shares of NASDAQ:CRBP opened at $18.99 on Friday. Corbus Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $61.90. The business has a 50 day moving average of $54.22 and a 200-day moving average of $46.96. The stock has a market cap of $202.95 million, a PE ratio of -2.73 and a beta of 2.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.29. Equities research analysts expect that Corbus Pharmaceuticals will post -3.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Corbus Pharmaceuticals in the 1st quarter worth about $976,000. Vanguard Group Inc. raised 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 buying an additional 257,808 shares during the last quarter. Altitude Crest Partners Inc. acquired a new stake in Corbus Pharmaceuticals during the 1st quarter worth approximately $4,069,000. Price T Rowe Associates Inc. MD acquired a new stake in Corbus Pharmaceuticals during the 1st quarter worth approximately $7,554,000. Finally, Janus Henderson Group PLC bought a new stake in Corbus Pharmaceuticals during the 1st quarter worth approximately $13,363,000. 64.64% of the stock is currently 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.