Jefferies Financial Group Has Lowered Expectations for Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Price

Corbus Pharmaceuticals (NASDAQ:CRBP) had its target price lowered by Jefferies Financial Group from $70.00 to $53.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on CRBP. Piper Sandler initiated coverage on shares of Corbus Pharmaceuticals in a research report on Monday, December 2nd. They issued an “overweight” rating and a $35.00 price objective for the company. StockNews.com raised Corbus Pharmaceuticals to a “sell” rating in a report on Thursday, March 6th. William Blair started coverage on Corbus Pharmaceuticals in a research report on Friday, February 28th. They set an “outperform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of Corbus Pharmaceuticals in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $59.13.

Corbus Pharmaceuticals Stock Down 7.1 %

Shares of NASDAQ:CRBP opened at $6.42 on Tuesday. The stock has a market cap of $78.19 million, a price-to-earnings ratio of -1.37 and a beta of 2.63. The business’s 50 day moving average is $9.56 and its 200 day moving average is $19.35. Corbus Pharmaceuticals has a 12-month low of $6.38 and a 12-month high of $61.90.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, March 11th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.24. As a group, equities research analysts expect that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Vestcor Inc purchased a new position in shares of Corbus Pharmaceuticals in the third quarter worth about $64,000. JPMorgan Chase & Co. lifted its holdings in Corbus Pharmaceuticals by 27.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,507 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 1,172 shares in the last quarter. MetLife Investment Management LLC bought a new position in Corbus Pharmaceuticals in the 3rd quarter worth about $123,000. Wells Fargo & Company MN grew its holdings in Corbus Pharmaceuticals by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 6,444 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 2,195 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Corbus Pharmaceuticals during the fourth quarter valued at about $84,000. Hedge funds and other institutional investors own 64.64% of the company’s stock.

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.