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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $40.6667.

Several equities analysts have recently issued reports on the company. Wedbush decreased their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Jefferies Financial Group decreased their price objective on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Oppenheimer decreased their price objective on Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, June 17th. Finally, Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th.

Insider Activity

In related news, insider Nishant C. Saxena acquired 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $7.58 per share, with a total value of $68,220.00. Following the acquisition, the insider directly owned 75,300 shares in the company, valued at $570,774. This represents a 13.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Kenneth Jenkins sold 4,800 shares of the business’s 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. This trade represents a 55.60% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,238 shares of company stock valued at $73,073. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Persistent Asset Partners Ltd purchased a new position in shares of Corbus Pharmaceuticals in the 4th quarter valued at about $54,000. Virtu Financial LLC purchased a new position in shares of Corbus Pharmaceuticals in the 4th quarter valued at about $88,000. Barclays PLC increased its stake 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 in the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals in the 3rd quarter valued at about $129,000. Finally, Bank of America Corp DE increased its stake in shares of Corbus Pharmaceuticals by 53,592.3% in the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 13,934 shares in the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP opened at $8.74 on Monday. The stock has a 50-day moving average of $9.35 and a two-hundred day moving average of $8.91. Corbus Pharmaceuticals has a one year low of $6.72 and a one year high of $20.56. The stock has a market cap of $161.95 million, a P/E ratio of -1.50 and a beta of 2.57.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.03. Analysts predict that Corbus Pharmaceuticals will post -4.87 EPS for the current fiscal 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.