Corbus Pharmaceuticals (NASDAQ:CRBP) received a $28.00 price target from equities research analysts at Cantor Fitzgerald in a report released on Thursday. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 288.89% from the stock’s previous close.
A number of other research firms have also recently issued reports on CRBP. Noble Financial reissued a “buy” rating and set a $16.00 price objective on shares of Corbus Pharmaceuticals in a research report on Friday, September 29th. ValuEngine cut Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Finally, BidaskClub raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.00.
Corbus Pharmaceuticals (NASDAQ CRBP) traded up $0.15 on Thursday, reaching $7.20. The company had a trading volume of 574,700 shares, compared to its average volume of 792,545. Corbus Pharmaceuticals has a 52-week low of $5.30 and a 52-week high of $10.50.
In related news, Director David P. Hochman bought 10,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $7.08 per share, for a total transaction of $70,800.00. Following the completion of the acquisition, the director now directly owns 459,500 shares in the company, valued at $3,253,260. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David P. Hochman bought 5,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the acquisition, the director now owns 459,500 shares of the company’s stock, valued at $3,009,725. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 25,336 shares of company stock valued at $175,632. Insiders own 11.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRBP. Vanguard Group Inc. raised its holdings in Corbus Pharmaceuticals by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,255,429 shares of the biopharmaceutical company’s stock valued at $10,357,000 after buying an additional 71,419 shares in the last quarter. Geode Capital Management LLC raised its holdings in Corbus Pharmaceuticals by 16.5% during the first quarter. Geode Capital Management LLC now owns 201,177 shares of the biopharmaceutical company’s stock valued at $1,659,000 after buying an additional 28,492 shares in the last quarter. Credit Suisse AG bought a new position in Corbus Pharmaceuticals during the first quarter valued at about $157,000. Schwab Charles Investment Management Inc. bought a new position in Corbus Pharmaceuticals during the second quarter valued at about $469,000. Finally, Rhumbline Advisers bought a new position in Corbus Pharmaceuticals during the second quarter valued at about $283,000. Institutional investors own 27.84% of the company’s stock.
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About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.
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