Brokerages Set Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Price Target at $41.12

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBPGet 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

In other Corbus Pharmaceuticals news, insider Nishant C. Saxena purchased 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $7.58 per share, with a total value of $68,220.00. Following the purchase, the insider owned 75,300 shares of the company’s stock, valued at approximately $570,774. The trade was a 13.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yuval Cohen sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $171,360.00. Following the sale, the chief executive officer directly owned 157,316 shares of the company’s stock, valued at $1,585,745.28. This represents a 9.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have acquired 16,100 shares of company stock worth $126,243 and have sold 38,238 shares worth $365,393. Company insiders own 3.50% of the company’s stock.

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:CRBPGet 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

(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.

Featured Stories

Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

Receive News & Ratings for Corbus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corbus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.