Corbus Pharmaceuticals (NASDAQ:CRBP) Research Coverage Started at B. Riley

by · The Markets Daily

B. Riley started coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP – Free Report) in a research note published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $85.00 price target on the biopharmaceutical company’s stock. B. Riley also issued estimates for Corbus Pharmaceuticals’ Q2 2024 earnings at ($0.92) EPS, Q3 2024 earnings at ($0.92) EPS, Q4 2024 earnings at ($0.92) EPS, FY2024 earnings at ($3.61) EPS, FY2025 earnings at ($3.94) EPS, FY2026 earnings at ($3.50) EPS, FY2027 earnings at ($3.90) EPS and FY2028 earnings at ($4.49) EPS.

CRBP has been the subject of several other reports. StockNews.com downgraded shares of Corbus Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, June 4th. Oppenheimer lifted their price objective on shares of Corbus Pharmaceuticals from $60.00 to $80.00 and gave the stock an outperform rating in a research note on Monday, June 3rd. Royal Bank of Canada lifted their price objective on shares of Corbus Pharmaceuticals from $77.00 to $82.00 and gave the stock an outperform rating in a research note on Tuesday, June 11th. Finally, Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals from a hold rating to a buy rating and lifted their price objective for the stock from $4.00 to $46.00 in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus target price of $73.25.

Get Our Latest Report on Corbus Pharmaceuticals

Corbus Pharmaceuticals Stock Up 3.1 %

Shares of CRBP stock opened at $45.25 on Wednesday. The firm has a market cap of $483.72 million, a price-to-earnings ratio of -6.50 and a beta of 2.52. The company’s 50 day moving average is $43.05 and its 200 day moving average is $30.53. Corbus Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $55.41.

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

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, CFO Sean F. Moran sold 1,958 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sean F. Moran sold 1,958 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $42.12, for a total transaction of $82,470.96. Following the completion of the sale, the chief financial officer now owns 48,605 shares of the company’s stock, valued at $2,047,242.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean F. Moran sold 9,355 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $49.87, for a total transaction of $466,533.85. Following the sale, the chief financial officer now directly owns 48,605 shares of the company’s stock, valued at approximately $2,423,931.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,733 shares of company stock valued at $2,530,799. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ikarian Capital LLC boosted its position in Corbus Pharmaceuticals by 185.5% during the first quarter. Ikarian Capital LLC now owns 559,271 shares of the biopharmaceutical company’s stock worth $21,946,000 after acquiring an additional 363,372 shares during the last quarter. Vanguard Group Inc. boosted its position in Corbus Pharmaceuticals by 143.7% during the first quarter. Vanguard Group Inc. now owns 437,264 shares of the biopharmaceutical company’s stock worth $17,158,000 after acquiring an additional 257,808 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Corbus Pharmaceuticals during the first quarter worth about $13,363,000. Assenagon Asset Management S.A. acquired a new position in Corbus Pharmaceuticals during the first quarter worth about $10,181,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Corbus Pharmaceuticals during the first quarter worth about $7,554,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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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