Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target Raised to $82.00

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) had its target price upped by research analysts at Royal Bank of Canada from $77.00 to $82.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 86.92% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. StockNews.com downgraded Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 4th. Jefferies Financial Group raised Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.00 to $46.00 in a report on Wednesday, March 6th. Finally, Oppenheimer boosted their target price on shares of Corbus Pharmaceuticals from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd.

Read Our Latest Report on Corbus Pharmaceuticals

Corbus Pharmaceuticals Stock Down 0.6 %

NASDAQ:CRBP opened at $43.87 on Tuesday. The company has a market cap of $468.97 million, a P/E ratio of -6.30 and a beta of 2.52. Corbus Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $50.48. The business has a 50 day moving average price of $41.17 and a two-hundred day moving average price of $26.90.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.26. As a group, analysts anticipate that Corbus Pharmaceuticals will post -5.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRBP. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Corbus Pharmaceuticals during the 1st quarter valued at $976,000. Altitude Crest Partners Inc. bought a new position in shares of Corbus Pharmaceuticals in the first quarter valued at about $4,069,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth about $7,554,000. Vanguard Group Inc. boosted its holdings in shares of Corbus Pharmaceuticals by 143.7% during the 1st quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after buying an additional 257,808 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Corbus Pharmaceuticals in the 1st quarter valued at about $10,181,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Company Profile

(Get Free Report)

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.

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