Corbus Pharmaceuticals (NASDAQ:CRBP) Price Target Increased to $82.00 by Analysts at Royal Bank of Canada

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

Other analysts have also issued research reports about the company. StockNews.com lowered Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Jefferies Financial Group upgraded Corbus Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the stock from $4.00 to $46.00 in a research note on Wednesday, March 6th. Finally, Oppenheimer raised their price objective on Corbus Pharmaceuticals from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd.

Get Our Latest Stock Report on Corbus Pharmaceuticals

Corbus Pharmaceuticals Trading Down 0.6 %

Shares of Corbus Pharmaceuticals stock opened at $43.87 on Tuesday. The stock’s fifty day moving average price is $41.17 and its 200-day moving average price is $26.90. The firm 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 12 month low of $3.03 and a 12 month high of $50.48.

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

Institutional Trading of Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth about $976,000. Altitude Crest Partners Inc. acquired a new position in Corbus Pharmaceuticals in the 1st quarter worth about $4,069,000. Price T Rowe Associates Inc. MD purchased a new position in Corbus Pharmaceuticals during the first quarter worth approximately $7,554,000. Vanguard Group Inc. increased its position in shares of Corbus Pharmaceuticals by 143.7% in the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock valued at $17,158,000 after buying an additional 257,808 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $10,181,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

(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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