Investment analysts at Raymond James Financial started coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research note issued on Friday. The firm set an “outperform” rating and a $24.00 price target on the biopharmaceutical company’s stock. Raymond James Financial’s price objective suggests a potential upside of 201.89% from the company’s current price.
Several other equities research analysts also recently issued reports on CRBP. Noble Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, September 29th. BidaskClub raised 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 target price on shares of Corbus Pharmaceuticals and gave the stock an “overweight” rating in a research report on Thursday, December 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.75.
Corbus Pharmaceuticals (NASDAQ CRBP) traded down $0.25 during trading on Friday, reaching $7.95. 483,900 shares of the company traded hands, compared to its average volume of 921,800. Corbus Pharmaceuticals has a 12-month low of $5.30 and a 12-month high of $10.50. The stock has a market cap of $455.31, a P/E ratio of -12.82 and a beta of 174.68.
Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Corbus Pharmaceuticals had a negative net margin of 1,040.41% and a negative return on equity of 96.02%. The firm had revenue of $0.80 million for the quarter. analysts forecast that Corbus Pharmaceuticals will post -0.6 EPS for the current year.
In related news, Director David P. Hochman bought 5,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $6.55 per share, with a total value of $32,750.00. Following the transaction, the director now owns 459,500 shares of the company’s stock, valued at $3,009,725. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Hochman bought 10,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $7.08 per share, with a total value of $70,800.00. Following the transaction, the director now directly owns 459,500 shares in the company, valued at approximately $3,253,260. The disclosure for this purchase can be found here. Insiders bought a total of 25,336 shares of company stock valued at $175,632 in the last three months. Insiders own 11.90% of the company’s stock.
Several large investors have recently made changes to their positions in CRBP. State Street Corp grew its position in shares of Corbus Pharmaceuticals by 2,998.2% during the 2nd quarter. State Street Corp now owns 588,662 shares of the biopharmaceutical company’s stock valued at $3,708,000 after buying an additional 569,662 shares during the last quarter. Northern Trust Corp grew its position in shares of Corbus Pharmaceuticals by 814.3% during the 2nd quarter. Northern Trust Corp now owns 482,337 shares of the biopharmaceutical company’s stock valued at $3,039,000 after buying an additional 429,584 shares during the last quarter. Vanguard Group Inc. boosted its stake in Corbus Pharmaceuticals by 24.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,563,408 shares of the biopharmaceutical company’s stock valued at $9,850,000 after purchasing an additional 307,979 shares during the period. TIAA CREF Investment Management LLC acquired a new position in Corbus Pharmaceuticals during the 2nd quarter valued at about $760,000. Finally, Bank of New York Mellon Corp boosted its stake in Corbus Pharmaceuticals by 548.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 136,812 shares of the biopharmaceutical company’s stock valued at $862,000 after purchasing an additional 115,710 shares during the period. 27.47% of the stock is owned by institutional investors and hedge funds.
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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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