Corbus Pharmaceuticals (NASDAQ:CRBP) Given New $44.00 Price Target at Mizuho

Corbus Pharmaceuticals (NASDAQ:CRBP) had its price objective hoisted by investment analysts at Mizuho from $40.00 to $44.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Mizuho’s price objective suggests a potential upside of 282.28% from the stock’s previous close.

A number of other brokerages also recently commented on CRBP. Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Jefferies Financial Group lowered their target price on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Guggenheim reiterated a “buy” rating and set a $45.00 target price on shares of Corbus Pharmaceuticals in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Finally, Oppenheimer lowered their target price on shares of Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Corbus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $42.89.

Corbus Pharmaceuticals Trading Up 18.3%

Corbus Pharmaceuticals stock opened at $11.51 on Friday. Corbus Pharmaceuticals has a twelve month low of $6.72 and a twelve month high of $20.56. The stock’s fifty day simple moving average is $10.00 and its 200-day simple moving average is $9.43. The firm has a market capitalization of $213.28 million, a P/E ratio of -1.98 and a beta of 2.68.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. Sell-side analysts predict that Corbus Pharmaceuticals will post -4.83 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth about $54,000. ADAR1 Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the third quarter worth about $129,000. Virtu Financial LLC acquired a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth about $88,000. Bank of America Corp DE boosted its stake in shares of Corbus Pharmaceuticals by 53,592.3% during the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 13,934 shares during the period. Finally, Barclays PLC boosted its stake in shares of Corbus Pharmaceuticals by 280.0% during the fourth quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 10,874 shares during the period. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.