Corbus Pharmaceuticals (CRBP) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a hold rating to a strong sell rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. “

Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Thursday, February 28th. Cantor Fitzgerald reiterated a buy rating and issued a $38.00 price target on shares of Corbus Pharmaceuticals in a research note on Tuesday, March 12th. Jefferies Financial Group started coverage on shares of Corbus Pharmaceuticals in a research note on Friday, April 5th. They issued a buy rating and a $18.00 price target for the company. HC Wainwright reiterated a buy rating and issued a $24.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, May 10th. Finally, BidaskClub upgraded shares of Corbus Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $23.59.

Corbus Pharmaceuticals stock opened at $7.20 on Monday. The firm has a market capitalization of $464.76 million, a P/E ratio of -7.35 and a beta of 2.12. Corbus Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $9.11. The company has a quick ratio of 2.45, a current ratio of 1.78 and a debt-to-equity ratio of 0.17.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.45). The business had revenue of $1.89 million during the quarter, compared to the consensus estimate of $20.97 million. Corbus Pharmaceuticals had a negative net margin of 1,219.36% and a negative return on equity of 166.99%. On average, research analysts anticipate that Corbus Pharmaceuticals will post -0.95 earnings per share for the current year.

In other news, insider Barbara White purchased 4,638 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $6.47 per share, for a total transaction of $30,007.86. Following the completion of the purchase, the insider now directly owns 184,159 shares in the company, valued at approximately $1,191,508.73. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 10,763 shares of company stock valued at $71,820. Corporate insiders own 8.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CRBP. BlackRock Inc. lifted its holdings in Corbus Pharmaceuticals by 31.7% in the third quarter. BlackRock Inc. now owns 5,220,146 shares of the biopharmaceutical company’s stock worth $39,412,000 after acquiring an additional 1,256,503 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Corbus Pharmaceuticals by 57.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 36,354 shares of the biopharmaceutical company’s stock valued at $274,000 after buying an additional 13,265 shares during the period. Morgan Stanley boosted its stake in shares of Corbus Pharmaceuticals by 24.9% during the 3rd quarter. Morgan Stanley now owns 882,068 shares of the biopharmaceutical company’s stock valued at $6,659,000 after buying an additional 175,705 shares during the period. Vanguard Group Inc. boosted its stake in shares of Corbus Pharmaceuticals by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after buying an additional 11,609 shares during the period. Finally, Vanguard Group Inc boosted its stake in shares of Corbus Pharmaceuticals by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after buying an additional 11,609 shares during the period. Institutional investors own 35.19% of the company’s stock.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.

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