Oppenheimer Believes Corbus Pharmaceuticals (NASDAQ: CRBP) Won’t Stop Here

By Ryan Adsit

Oppenheimer analyst Leland Gershell assigned a Buy rating to Corbus Pharmaceuticals (CRBPResearch Report) today and set a price target of $28.00. The company’s shares closed last Monday at $8.14, close to its 52-week high of $8.66.

According to TipRanks.com, Gershell is a 5-star analyst with an average return of 14.6% and a 51.2% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals, BioMarin Pharmaceutical, and Anchiano Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Corbus Pharmaceuticals with a $28.00 average price target, which is a 256.7% upside from current levels. In a report issued on June 16, BTIG also initiated coverage with a Buy rating on the stock with a $22.00 price target.

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The company has a one-year high of $8.66 and a one-year low of $3.29. Currently, Corbus Pharmaceuticals has an average volume of 1.19M.

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Corbus Pharmaceuticals Holdings, Inc. is a phase 3 clinical-stage pharmaceutical company, which focuses on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. The company was founded on December 18, 2013 and is headquartered in Norwood, MA.