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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $41.1250.

A number of brokerages have commented on CRBP. Oppenheimer cut their price objective on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Friday, July 17th. Jefferies Financial Group cut their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. HC Wainwright reduced their price objective on shares of Corbus Pharmaceuticals from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wall Street Zen lowered Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday.

Corbus Pharmaceuticals Stock Performance

CRBP opened at $9.46 on Tuesday. Corbus Pharmaceuticals has a one year low of $7.12 and a one year high of $20.56. The stock has a market capitalization of $175.29 million, a P/E ratio of -1.53 and a beta of 2.59. The business’s 50-day simple moving average is $8.76 and its 200-day simple moving average is $9.06.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). On average, equities research analysts forecast that Corbus Pharmaceuticals will post -4.87 EPS for the current fiscal year.

Insider Activity at Corbus Pharmaceuticals

In other news, CFO Sean F. Moran sold 12,000 shares of Corbus Pharmaceuticals stock in a transaction on Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $120,960.00. Following the completion of the transaction, the chief financial officer owned 84,694 shares of the company’s stock, valued at $853,715.52. The trade was a 12.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Yuval Cohen sold 17,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were 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 directly owned 157,316 shares in the company, valued at $1,585,745.28. This trade represents a 9.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 38,238 shares of company stock worth $365,393 over the last three months. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of CRBP. Persistent Asset Partners Ltd acquired a new position in Corbus Pharmaceuticals during the fourth quarter worth approximately $54,000. Virtu Financial LLC purchased a new position in Corbus Pharmaceuticals during the fourth quarter worth approximately $88,000. Barclays PLC boosted its holdings in shares of Corbus Pharmaceuticals by 280.0% in 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 last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at $129,000. Finally, Bank of America Corp DE grew its stake in shares of Corbus Pharmaceuticals by 53,592.3% during the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 13,934 shares during the period. 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.