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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $40.6667.

CRBP has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Jefferies Financial Group decreased their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Oppenheimer decreased their price target on Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 17th. Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, insider Nishant C. Saxena purchased 9,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average cost of $7.58 per share, with a total value of $68,220.00. Following the completion of the acquisition, the insider directly owned 75,300 shares in the company, valued at $570,774. The trade was a 13.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Kenneth Jenkins sold 4,800 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total value of $37,968.00. Following the completion of the transaction, the director directly owned 3,833 shares of the company’s stock, valued at approximately $30,319.03. This trade represents a 55.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,238 shares of company stock valued at $73,073. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new stake in Corbus Pharmaceuticals during the fourth quarter worth about $54,000. Virtu Financial LLC purchased a new stake in shares of Corbus Pharmaceuticals in the fourth quarter worth about $88,000. Barclays PLC boosted its position in shares of Corbus Pharmaceuticals by 280.0% in the fourth 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. ADAR1 Capital Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter worth about $129,000. Finally, Bank of America Corp DE boosted its position 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 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

Corbus Pharmaceuticals stock opened at $8.74 on Monday. Corbus Pharmaceuticals has a twelve month low of $6.72 and a twelve month high of $20.56. The stock has a 50 day moving average of $9.35 and a two-hundred day moving average of $8.90. The stock has a market capitalization of $161.95 million, a price-to-earnings ratio of -1.50 and a beta of 2.57.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. Equities analysts predict that Corbus Pharmaceuticals will post -4.87 earnings per share for the current year.

Corbus Pharmaceuticals Company Profile

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.