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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBPGet Free Report) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $41.00.

CRBP has been the subject of a number of recent research reports. Jefferies Financial Group cut their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Mizuho set a $33.00 price objective on shares of Corbus Pharmaceuticals in a report on Thursday, August 13th. Wall Street Zen lowered shares of Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Oppenheimer reduced their target price on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Finally, Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th.

Check Out Our Latest Stock Report on Corbus Pharmaceuticals

Insider Buying and Selling

In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 17,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $171,360.00. Following the completion of the sale, the chief executive officer owned 157,316 shares of the company’s stock, valued at approximately $1,585,745.28. The trade was a 9.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nishant Saxena acquired 2,600 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $9.63 per share, for a total transaction of $25,038.00. Following the purchase, the insider directly owned 77,900 shares of the company’s stock, valued at approximately $750,177. This trade represents a 3.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 38,238 shares of company stock worth $365,393. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter worth approximately $54,000. Virtu Financial LLC bought a new stake in shares of Corbus Pharmaceuticals during the 4th quarter valued at $88,000. Barclays PLC raised its position in shares of Corbus Pharmaceuticals by 280.0% during the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 10,874 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the 3rd quarter valued at $129,000. Finally, Bank of America Corp DE boosted its holdings in Corbus Pharmaceuticals by 53,592.3% in the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 13,934 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $11.08 on Friday. The firm has a market capitalization of $206.87 million, a P/E ratio of -1.79 and a beta of 2.63. The stock has a 50 day moving average price of $9.75 and a 200-day moving average price of $9.36. Corbus Pharmaceuticals has a 52-week low of $7.12 and a 52-week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). On average, equities analysts forecast that Corbus Pharmaceuticals will post -5.54 EPS 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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