Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Stock Has Consensus Target Price of $39.57 According to Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.57.

CRBP has been the subject of several research reports. Wall Street Zen downgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Thursday, October 15th. Mizuho set a $33.00 price objective on shares of Corbus Pharmaceuticals in a research report on Thursday, August 13th. Oppenheimer dropped their price objective on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, September 14th.

Insider Buying and Selling

In related news, CEO Yuval Cohen sold 17,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $171,360.00. Following the transaction, the chief executive officer owned 157,316 shares in the company, valued at $1,585,745.28. The trade was a 9.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sean F. Moran sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $10.08, for a total value of $120,960.00. Following the sale, the chief financial officer directly owned 84,694 shares of the company’s stock, valued at approximately $853,715.52. This represents a 12.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,000 shares of company stock valued at $308,000 over the last quarter. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC grew its stake in shares of Corbus Pharmaceuticals by 8.8% in the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock valued at $16,313,000 after purchasing an additional 140,000 shares during the last quarter. Exome Asset Management LLC increased its holdings in shares of Corbus Pharmaceuticals by 67.8% in the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock valued at $2,199,000 after purchasing an additional 94,593 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Corbus Pharmaceuticals by 76.6% during the first quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock worth $1,281,000 after purchasing an additional 59,248 shares during the last quarter. Seven Fleet Capital Management LP raised its stake in shares of Corbus Pharmaceuticals by 51.0% during the first quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock worth $805,000 after purchasing an additional 28,937 shares during the last quarter. Finally, Doliver Advisors LP purchased a new stake in shares of Corbus Pharmaceuticals during the third quarter worth approximately $518,000. 64.64% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Trading Up 4.0%

Shares of NASDAQ CRBP opened at $4.15 on Friday. Corbus Pharmaceuticals has a twelve month low of $3.87 and a twelve month high of $18.11. The stock has a 50 day moving average of $7.52 and a two-hundred day moving average of $8.66.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.55). On average, equities research analysts forecast that Corbus Pharmaceuticals will post -5.62 earnings per share for the current fiscal year.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company’s research is centered on therapies designed to modulate immune-cell activity and target biological pathways involved in cancer and inflammatory disease.

Corbus’ oncology pipeline has included soquelitinib, formerly known as CPI-818, an oral, selective inhibitor of interleukin-2-inducible T-cell kinase (ITK) being evaluated for its potential to treat T-cell lymphomas and other cancers.