Corbus Pharmaceuticals’ (CRBP) Overweight Rating Reaffirmed at Cantor Fitzgerald

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a report issued on Friday. They currently have a $38.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $36.00. Cantor Fitzgerald’s target price suggests a potential upside of 388.43% from the company’s previous close.

CRBP has been the topic of several other reports. ValuEngine raised Corbus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. BidaskClub cut Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 18th. B. Riley began coverage on Corbus Pharmaceuticals in a report on Wednesday, October 24th. They set a “buy” rating and a $22.00 price objective for the company. Royal Bank of Canada assumed coverage on shares of Corbus Pharmaceuticals in a report on Friday, December 7th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, HC Wainwright assumed coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, December 26th. They issued a “buy” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Corbus Pharmaceuticals currently has an average rating of “Buy” and an average target price of $26.20.

Shares of CRBP stock opened at $7.78 on Friday. Corbus Pharmaceuticals has a one year low of $4.50 and a one year high of $9.95. The firm has a market capitalization of $440.73 million, a price-to-earnings ratio of -11.97 and a beta of 2.11.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). The firm had revenue of $1.09 million for the quarter, compared to analysts’ expectations of $1.66 million. Equities research analysts expect that Corbus Pharmaceuticals will post -0.87 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nexthera Capital LP purchased a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth $678,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Corbus Pharmaceuticals by 52.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,884 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 12,380 shares during the last quarter. Woodstock Corp increased its holdings in shares of Corbus Pharmaceuticals by 29.5% during the 3rd quarter. Woodstock Corp now owns 93,264 shares of the biopharmaceutical company’s stock worth $704,000 after purchasing an additional 21,263 shares during the period. Millennium Management LLC bought a new stake in Corbus Pharmaceuticals in the second quarter valued at about $772,000. Finally, Alliancebernstein L.P. lifted its position in shares of Corbus Pharmaceuticals by 61.5% during the third quarter. Alliancebernstein L.P. now owns 55,400 shares of the biopharmaceutical company’s stock worth $418,000 after purchasing an additional 21,100 shares in the last quarter. 43.87% of the stock is owned by institutional investors.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc is a phase 3 clinical-stage pharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes.

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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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