Corbus Pharmaceuticals Holdings Inc (CRBP) Given Consensus Rating of “Buy” by Brokerages

Shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) have been assigned an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.33.

A number of equities research analysts have recently commented on CRBP shares. Noble Financial increased their target price on shares of Corbus Pharmaceuticals from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Raymond James Financial started coverage on shares of Corbus Pharmaceuticals in a research report on Friday, January 19th. They set an “outperform” rating and a $24.00 price objective for the company. BidaskClub upgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Cantor Fitzgerald set a $28.00 price objective on shares of Corbus Pharmaceuticals and gave the stock an “overweight” rating in a research report on Thursday, December 14th.

Shares of Corbus Pharmaceuticals (CRBP) opened at $7.05 on Tuesday. The company has a market cap of $392.00, a PE ratio of -11.19 and a beta of 2.14. Corbus Pharmaceuticals has a 12-month low of $5.30 and a 12-month high of $10.50.

In other news, Director David P. Hochman acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the transaction, the director now owns 459,500 shares in the company, valued at $3,009,725. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. acquired a new stake in Corbus Pharmaceuticals during the fourth quarter worth about $2,663,000. Virtus Fund Advisers LLC acquired a new stake in Corbus Pharmaceuticals during the fourth quarter worth about $337,000. Artal Group S.A. increased its position in Corbus Pharmaceuticals by 166.7% during the fourth quarter. Artal Group S.A. now owns 400,000 shares of the biopharmaceutical company’s stock worth $2,840,000 after purchasing an additional 250,000 shares during the last quarter. BlackRock Inc. increased its position in Corbus Pharmaceuticals by 38.4% during the fourth quarter. BlackRock Inc. now owns 3,594,865 shares of the biopharmaceutical company’s stock worth $25,524,000 after purchasing an additional 996,767 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Corbus Pharmaceuticals by 26.3% during the fourth quarter. Bank of New York Mellon Corp now owns 189,578 shares of the biopharmaceutical company’s stock worth $1,346,000 after purchasing an additional 39,443 shares during the last quarter. Hedge funds and other institutional investors own 27.89% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Corbus Pharmaceuticals Holdings Inc (CRBP) Given Consensus Rating of “Buy” by Brokerages” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/13/corbus-pharmaceuticals-holdings-inc-crbp-given-consensus-rating-of-buy-by-brokerages-2.html.

Corbus Pharmaceuticals Company Profile

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.

Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply