Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday, March 21st, ValuEngine reports.
Other equities research analysts have also issued research reports about the stock. Oppenheimer initiated coverage on shares of Corbus Pharmaceuticals in a report on Tuesday, March 19th. They issued an “outperform” rating and a $28.00 price target for the company. HC Wainwright initiated coverage on shares of Corbus Pharmaceuticals in a research note on Wednesday, December 26th. They set a “buy” rating and a $24.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 price objective (up previously from $36.00) on shares of Corbus Pharmaceuticals in a research note on Friday, January 11th. Royal Bank of Canada initiated coverage on shares of Corbus Pharmaceuticals in a research note on Friday, December 7th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, BidaskClub upgraded shares of Corbus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Corbus Pharmaceuticals has an average rating of “Buy” and a consensus target price of $23.59.
Corbus Pharmaceuticals stock traded up $0.18 during trading hours on Thursday, hitting $7.16. The company had a trading volume of 1,297,368 shares, compared to its average volume of 1,662,530. The stock has a market cap of $448.64 million, a price-to-earnings ratio of -7.31 and a beta of 2.16. Corbus Pharmaceuticals has a 1 year low of $4.50 and a 1 year high of $9.11.
In other Corbus Pharmaceuticals news, insider Barbara White acquired 4,638 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $6.47 per share, with a total value of $30,007.86. Following the acquisition, the insider now directly owns 184,159 shares of the company’s stock, valued at $1,191,508.73. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 8,668 shares of company stock worth $56,923 over the last ninety days. Insiders own 12.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Corbus Pharmaceuticals by 31.7% in the 3rd quarter. BlackRock Inc. now owns 5,220,146 shares of the biopharmaceutical company’s stock valued at $39,412,000 after acquiring an additional 1,256,503 shares during the last quarter. ETF Managers Group LLC purchased a new stake in Corbus Pharmaceuticals during the fourth quarter worth $23,276,000. Vanguard Group Inc boosted its holdings in Corbus Pharmaceuticals by 0.5% during the third quarter. Vanguard Group Inc now owns 2,390,014 shares of the biopharmaceutical company’s stock worth $18,045,000 after buying an additional 11,609 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Corbus Pharmaceuticals by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,390,014 shares of the biopharmaceutical company’s stock worth $18,045,000 after buying an additional 11,609 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in Corbus Pharmaceuticals by 6.8% during the fourth quarter. IFP Advisors Inc now owns 1,608,569 shares of the biopharmaceutical company’s stock worth $9,458,000 after buying an additional 102,323 shares in the last quarter. 40.27% of the stock is currently owned by institutional investors and hedge funds.
Corbus Pharmaceuticals Company Profile
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.
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