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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $40.6667.

Several equities analysts have recently issued reports on CRBP shares. Jefferies Financial Group cut their price target on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Oppenheimer lowered their price target on shares of Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Finally, Mizuho lowered their target price on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd.

Corbus Pharmaceuticals Price Performance

CRBP stock opened at $8.80 on Friday. The company has a 50 day moving average price of $9.04 and a 200 day moving average price of $8.93. Corbus Pharmaceuticals has a fifty-two week low of $7.12 and a fifty-two week high of $20.56. The stock has a market capitalization of $163.06 million, a PE ratio of -1.51 and a beta of 2.55.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.03. As a group, equities analysts expect that Corbus Pharmaceuticals will post -4.87 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nishant C. Saxena bought 9,000 shares of Corbus Pharmaceuticals stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of $7.58 per share, for a total transaction of $68,220.00. Following the completion of the acquisition, the insider owned 75,300 shares in the company, valued at approximately $570,774. This represents a 13.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Kenneth Jenkins sold 4,800 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.91, for a total value of $37,968.00. Following the transaction, the director owned 3,833 shares of the company’s stock, valued at $30,319.03. The trade was a 55.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,238 shares of company stock worth $73,073 in the last three months. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Velan Capital Investment Management LP increased its position in shares of Corbus Pharmaceuticals by 3.4% in the 3rd quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock valued at $772,000 after buying an additional 2,000 shares in the last quarter. Pale Fire Capital SE lifted its holdings in Corbus Pharmaceuticals by 14.5% during the first quarter. Pale Fire Capital SE now owns 21,350 shares of the biopharmaceutical company’s stock worth $200,000 after acquiring an additional 2,700 shares in the last quarter. Mariner LLC grew its stake in Corbus Pharmaceuticals by 34.0% in the third quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock valued at $264,000 after acquiring an additional 5,289 shares during the period. Persistent Asset Partners Ltd acquired a new position in Corbus Pharmaceuticals in the fourth quarter valued at about $54,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals in the third quarter worth about $129,000. 64.64% of the stock is owned by institutional investors.

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.