Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target Increased to $60.00 by Analysts at Oppenheimer

Corbus Pharmaceuticals (NASDAQ:CRBP) had its target price upped by equities research analysts at Oppenheimer from $58.00 to $60.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price indicates a potential upside of 37.17% from the stock’s previous close.

Several other brokerages also recently weighed in on CRBP. StockNews.com upgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $46.00 in a research report on Wednesday, March 6th.

Corbus Pharmaceuticals Price Performance

NASDAQ:CRBP opened at $43.74 on Wednesday. Corbus Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $49.87. The firm has a market capitalization of $459.58 million, a PE ratio of -6.28 and a beta of 2.46. The business’s fifty day moving average price is $38.85 and its 200 day moving average price is $20.49.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Tuesday, March 12th. The biopharmaceutical company reported ($1.81) EPS for the quarter, beating analysts’ consensus estimates of ($2.36) by $0.55. As a group, equities analysts anticipate that Corbus Pharmaceuticals will post -5.21 EPS for the current year.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 250,000 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $40.05 per share, for a total transaction of $10,012,500.00. Following the transaction, the insider now directly owns 1,725,000 shares in the company, valued at $69,086,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

An institutional investor recently bought a new position in Corbus Pharmaceuticals stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,880 shares of the biopharmaceutical company’s stock, valued at approximately $976,000. Mirae Asset Global Investments Co. Ltd. owned about 0.24% of Corbus Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

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.