Corbus Pharmaceuticals' Buy Rating Reaffirmed by HC Wainwright

Corbus Pharmaceuticals (NASDAQ: CRBP) has received a reaffirmed "buy" rating from analysts at HC Wainwright. This announcement was made in a research report released on Monday. The target price for Corbus Pharmaceuticals' shares has been adjusted to $75.00, which is a decrease from the previous target of $80.00.

Corbus Pharmaceuticals has notably experienced a remarkable year, with a stock surge of 342% year-to-date. This company operates in the biopharmaceutical industry, focusing on the development of treatments for serious illnesses.

Market Analysis of Corbus Pharmaceuticals

Several other equity research analysts have also shared their viewpoints on Corbus Pharmaceuticals. On January 13th, StockNews.com raised its rating on Corbus Pharmaceuticals to "sell." Meanwhile, Wedbush maintained an "outperform" rating with a price target set at $51.00 in a report released on November 4th. In addition, Piper Sandler initiated coverage of Corbus Pharmaceuticals, assigning an "overweight" rating and a price target of $35.00.

Overall, the assessment of Corbus Pharmaceuticals indicates a mixed outlook. While one analyst has rated the stock as a "sell," there are eight analysts rating it as a "buy," and one as a "strong buy." According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.38.

Performance Metrics

The stock of Corbus Pharmaceuticals opened at $10.15 on Monday, with a 52-week low of $9.11 and a high of $61.90. The company's market capitalization stands at approximately $123.63 million. It has recorded a PE ratio of -2.16 and a beta of 2.63. In terms of moving averages, the firm has a 50-day simple moving average of $12.65 and a 200-day simple moving average of $27.19.

Financial Results and Future Outlook

Corbus Pharmaceuticals last reported its earnings on November 7th, where it disclosed a loss of ($1.15) earnings per share (EPS). This figure was below the consensus estimate of ($0.99) by $0.16. Analysts predict that Corbus Pharmaceuticals will post a full-year EPS of -$4.23.

Institutional Investors' Influence

Several hedge funds have made significant adjustments to their holdings in Corbus Pharmaceuticals. For instance, Vestcor Inc acquired a new position during the third quarter, worth $64,000. Additionally, JPMorgan Chase & Co. increased its shares in the company by 27%, owning 5,507 shares valued at about $114,000 after a recent purchase. MetLife Investment Management LLC also bought a new stake, bringing its total to approximately $123,000. Hedge funds now account for about 64.64% of the company's stock ownership.

Company Overview

Corbus Pharmaceuticals Holdings, Inc. is committed to developing products aimed at countering serious illnesses. The firm is working on several promising candidates, including CRB-701, which is an antibody drug conjugate that specifically targets cancer cells, CRB-601, an anti-integrin monoclonal antibody for treating solid tumors, and CRB-913, a cannabinoid receptor inverse agonist aimed at reducing obesity.

Pharmaceuticals, Investment, Analysis