Cantor Fitzgerald set a $24.00 price target on Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in a research report sent to investors on Wednesday, August 9th. The firm currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research analysts have also weighed in on the stock. Noble Financial reaffirmed a buy rating on shares of Corbus Pharmaceuticals Holdings in a research note on Wednesday, August 9th. BidaskClub lowered shares of Corbus Pharmaceuticals Holdings from a sell rating to a strong sell rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $20.50.
Corbus Pharmaceuticals Holdings (CRBP) traded down 1.67% during midday trading on Wednesday, hitting $5.90. The company had a trading volume of 221,489 shares. The company has a 50 day moving average price of $6.24 and a 200 day moving average price of $7.06. The firm’s market capitalization is $296.30 million. Corbus Pharmaceuticals Holdings has a 1-year low of $3.50 and a 1-year high of $10.78.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.50 million. Corbus Pharmaceuticals Holdings had a negative net margin of 1,001.77% and a negative return on equity of 107.10%. Equities research analysts forecast that Corbus Pharmaceuticals Holdings will post ($0.73) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of CRBP. Dynamic Technology Lab Private Ltd bought a new position in shares of Corbus Pharmaceuticals Holdings during the second quarter worth $198,000. California State Teachers Retirement System acquired a new position in Corbus Pharmaceuticals Holdings during the second quarter worth $495,000. Raymond James Financial Services Advisors Inc. raised its position in Corbus Pharmaceuticals Holdings by 5.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 426,280 shares of the biopharmaceutical company’s stock worth $2,686,000 after buying an additional 22,394 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Corbus Pharmaceuticals Holdings during the second quarter worth $228,000. Finally, State Street Corp raised its position in Corbus Pharmaceuticals Holdings by 2,998.2% in the second quarter. State Street Corp now owns 588,662 shares of the biopharmaceutical company’s stock worth $3,708,000 after buying an additional 569,662 shares during the period. 28.63% of the stock is currently owned by hedge funds and other institutional investors.
About Corbus Pharmaceuticals Holdings
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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