Corbus Pharmaceuticals’ (CRBP) “Buy” Rating Reaffirmed at HC Wainwright

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $40.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 381.35% from the company’s current price.

Several other research analysts have also commented on CRBP. Guggenheim restated a “buy” rating and issued a $45.00 price target on shares of Corbus Pharmaceuticals in a report on Wednesday, May 13th. Jefferies Financial Group cut their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Oppenheimer cut their price target on shares of Corbus Pharmaceuticals from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $42.89.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock traded down $3.04 during trading on Tuesday, hitting $8.31. The company’s stock had a trading volume of 2,012,701 shares, compared to its average volume of 248,244. The stock has a market capitalization of $153.98 million, a price-to-earnings ratio of -1.43 and a beta of 2.68. The stock’s fifty day moving average is $10.05 and its 200 day moving average is $9.42. Corbus Pharmaceuticals has a 1-year low of $6.72 and a 1-year high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. On average, research analysts anticipate that Corbus Pharmaceuticals will post -4.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Orbimed Advisors LLC increased its holdings in Corbus Pharmaceuticals by 8.8% during the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after purchasing an additional 140,000 shares during the last quarter. Aberdeen Group plc increased its holdings in Corbus Pharmaceuticals by 602.2% during the 4th quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock worth $10,759,000 after purchasing an additional 1,133,519 shares during the last quarter. Prosight Management LP increased its holdings in Corbus Pharmaceuticals by 99.1% during the 4th quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock worth $5,567,000 after purchasing an additional 340,472 shares during the last quarter. Vanguard Group Inc. increased its holdings in Corbus Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock worth $7,742,000 after purchasing an additional 12,535 shares during the last quarter. Finally, Armistice Capital LLC increased its holdings in Corbus Pharmaceuticals by 179.2% during the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock worth $4,363,000 after purchasing an additional 344,000 shares during the last quarter. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

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.