Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $44.38 Consensus Target Price from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $44.3750.

CRBP has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $51.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Mizuho set a $39.00 price objective on Corbus Pharmaceuticals in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Finally, Benchmark reaffirmed a “reduce” rating on shares of Corbus Pharmaceuticals in a report on Monday, October 20th.

Corbus Pharmaceuticals Price Performance

Corbus Pharmaceuticals stock opened at $8.73 on Friday. The business has a 50 day simple moving average of $9.38 and a 200-day simple moving average of $10.73. Corbus Pharmaceuticals has a 12 month low of $4.64 and a 12 month high of $20.56. The stock has a market capitalization of $153.21 million, a PE ratio of -1.58 and a beta of 2.77.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.80) by ($0.10). As a group, equities research analysts anticipate that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.46, for a total transaction of $344,132.34. Following the transaction, the insider directly owned 2,344,971 shares of the company’s stock, valued at $26,873,367.66. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Institutional Trading of Corbus Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc increased its holdings in Corbus Pharmaceuticals by 602.2% in the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock valued at $10,759,000 after buying an additional 1,133,519 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth approximately $573,000. Assenagon Asset Management S.A. grew its holdings in shares of Corbus Pharmaceuticals by 120.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 187,956 shares of the biopharmaceutical company’s stock worth $1,530,000 after acquiring an additional 102,609 shares during the period. Ameriprise Financial Inc. purchased a new position in Corbus Pharmaceuticals in the 3rd quarter valued at approximately $881,000. Finally, Bank of America Corp DE raised its holdings in Corbus Pharmaceuticals by 333.6% during the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock worth $496,000 after purchasing an additional 55,314 shares during the last quarter. Hedge funds and other institutional investors 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.