Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Recommendation of “Moderate Buy” by Brokerages

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBPGet Free Report) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $42.00.

Several equities analysts have weighed in on CRBP shares. Oppenheimer dropped their price objective on Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Mizuho lifted their price objective on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Guggenheim reaffirmed a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th.

Check Out Our Latest Research Report on Corbus Pharmaceuticals

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRBP. AQR Capital Management LLC acquired a new position in Corbus Pharmaceuticals in the 1st quarter valued at $573,000. Marshall Wace LLP acquired a new position in Corbus Pharmaceuticals in the 2nd quarter valued at $137,000. Bank of America Corp DE raised its holdings in Corbus Pharmaceuticals by 333.6% in the 2nd quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 55,314 shares in the last quarter. Aberdeen Group plc raised its holdings in Corbus Pharmaceuticals by 160.6% in the 3rd quarter. Aberdeen Group plc now owns 188,231 shares of the biopharmaceutical company’s stock valued at $2,381,000 after acquiring an additional 116,005 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Corbus Pharmaceuticals by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after acquiring an additional 12,535 shares in the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.

Corbus Pharmaceuticals Price Performance

CRBP opened at $7.82 on Thursday. The business has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $9.38. The company has a market capitalization of $144.90 million, a PE ratio of -1.34 and a beta of 2.68. Corbus Pharmaceuticals has a 1 year low of $6.72 and a 1 year high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) last released its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.03. Equities analysts anticipate that Corbus Pharmaceuticals will post -4.83 earnings per share for the current fiscal year.

Corbus Pharmaceuticals Company Profile

(Get Free Report)

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.

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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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