Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $41.00.
A number of research firms have weighed in on CRBP. HC Wainwright cut their price objective on shares of Corbus Pharmaceuticals from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Jefferies Financial Group lowered their target price on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Wedbush dropped their price target on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th.
Read Our Latest Stock Report on Corbus Pharmaceuticals
Insiders Place Their Bets
Institutional Trading of Corbus Pharmaceuticals
A number of hedge funds and other institutional investors have recently bought and sold shares of CRBP. Persistent Asset Partners Ltd bought a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth $54,000. ADAR1 Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at $129,000. Virtu Financial LLC bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter worth about $88,000. Bank of America Corp DE grew its holdings in shares of Corbus Pharmaceuticals by 53,592.3% in the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 13,934 shares during the last quarter. Finally, Barclays PLC increased its stake in Corbus Pharmaceuticals by 280.0% in the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 10,874 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.
Corbus Pharmaceuticals Price Performance
Shares of CRBP opened at $10.49 on Tuesday. The stock has a market capitalization of $195.86 million, a price-to-earnings ratio of -1.69 and a beta of 2.59. Corbus Pharmaceuticals has a 1 year low of $7.12 and a 1 year high of $20.56. The business’s 50 day simple moving average is $8.99 and its 200-day simple moving average is $9.09.
Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.55). On average, sell-side analysts expect that Corbus Pharmaceuticals will post -5.54 earnings per share for the current year.
About Corbus Pharmaceuticals
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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