Zacks Investment Research Lowers Corbus Pharmaceuticals (NASDAQ:CRBP) to Sell

Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. “

Separately, HC Wainwright cut their target price on shares of Corbus Pharmaceuticals from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.88.

Shares of Corbus Pharmaceuticals stock opened at $1.61 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.06 and a current ratio of 2.06. Corbus Pharmaceuticals has a 52-week low of $0.91 and a 52-week high of $9.78. The stock has a market capitalization of $135.30 million, a price-to-earnings ratio of -0.90 and a beta of 2.14. The company’s 50 day moving average price is $1.36 and its 200-day moving average price is $3.61.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Monday, November 16th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.42). Corbus Pharmaceuticals had a negative net margin of 2,208.06% and a negative return on equity of 485.45%. The firm had revenue of $1.23 million for the quarter, compared to analysts’ expectations of $3.42 million. As a group, equities research analysts forecast that Corbus Pharmaceuticals will post -1.59 earnings per share for the current fiscal year.

In related news, CFO Sean F. Moran sold 87,500 shares of Corbus Pharmaceuticals stock in a transaction on Monday, December 21st. The shares were sold at an average price of $1.75, for a total value of $153,125.00. Following the sale, the chief financial officer now owns 403,220 shares in the company, valued at $705,635. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sean F. Moran sold 53,610 shares of Corbus Pharmaceuticals stock in a transaction on Friday, December 18th. The shares were sold at an average price of $1.40, for a total transaction of $75,054.00. Following the completion of the sale, the chief financial officer now owns 403,220 shares in the company, valued at approximately $564,508. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,033 shares of company stock worth $276,917. 8.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in CRBP. BNP Paribas Arbitrage SA lifted its position in Corbus Pharmaceuticals by 174.4% during the third quarter. BNP Paribas Arbitrage SA now owns 19,562 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 12,433 shares during the period. Great West Life Assurance Co. Can bought a new position in shares of Corbus Pharmaceuticals during the 2nd quarter valued at approximately $37,000. Sigma Planning Corp bought a new position in shares of Corbus Pharmaceuticals during the 3rd quarter valued at approximately $58,000. Aries Wealth Management grew its stake in shares of Corbus Pharmaceuticals by 149.3% during the 3rd quarter. Aries Wealth Management now owns 33,400 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 20,000 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Corbus Pharmaceuticals during the 3rd quarter valued at approximately $62,000. 67.13% of the stock is owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid drug that is in Phase III clinical trials for the treatment of systemic sclerosis and dermatomyositis, and in Phase IIb clinical trials to treat systemic lupus erythematosus and cystic fibrosis.

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