Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Lowered by Wall Street Zen

Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

A number of other research analysts also recently commented on the company. Mizuho reduced their price target on Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. HC Wainwright dropped their price objective on Corbus Pharmaceuticals from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Oppenheimer cut their target price on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday. Wedbush reduced their target price on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group decreased their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Corbus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $41.12.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $10.17 on Friday. The firm has a fifty day simple moving average of $8.72 and a 200-day simple moving average of $9.05. The company has a market capitalization of $188.45 million, a PE ratio of -1.64 and a beta of 2.59. Corbus Pharmaceuticals has a twelve month low of $7.12 and a twelve month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly 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). Equities research analysts predict that Corbus Pharmaceuticals will post -4.87 EPS for the current year.

Insider Transactions at Corbus Pharmaceuticals

In other news, Director John Kenneth Jenkins sold 4,800 shares of Corbus Pharmaceuticals stock in a transaction dated Wednesday, June 10th. The shares were 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. The trade was a 55.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nishant C. Saxena acquired 9,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $7.58 per share, with a total value of $68,220.00. Following the transaction, the insider owned 75,300 shares in the company, valued at approximately $570,774. The trade was a 13.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 9,238 shares of company stock worth $73,073. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

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

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.