Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $41.00.

A number of brokerages recently commented on CRBP. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Friday, July 17th. Jefferies Financial Group lowered their target price on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Wedbush cut their price target on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, Oppenheimer reduced their price target on Corbus Pharmaceuticals from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, August 7th.

Corbus Pharmaceuticals Stock Performance

Shares of Corbus Pharmaceuticals stock opened at $11.08 on Friday. The stock has a market capitalization of $206.87 million, a P/E ratio of -1.79 and a beta of 2.63. Corbus Pharmaceuticals has a 52-week low of $7.12 and a 52-week high of $20.56. The stock’s 50-day simple moving average is $9.75 and its 200 day simple moving average is $9.36.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.55). Equities research analysts forecast that Corbus Pharmaceuticals will post -5.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yuval Cohen sold 17,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $171,360.00. Following the completion of the transaction, the chief executive officer directly owned 157,316 shares in the company, valued at $1,585,745.28. The trade was a 9.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sean F. Moran sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $10.08, for a total transaction of $120,960.00. Following the completion of the sale, the chief financial officer directly owned 84,694 shares in the company, valued at $853,715.52. This represents a 12.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,238 shares of company stock worth $365,393 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Orbimed Advisors LLC raised its holdings in Corbus Pharmaceuticals by 8.8% during the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock valued at $16,313,000 after buying an additional 140,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Corbus Pharmaceuticals by 76.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock worth $1,281,000 after acquiring an additional 59,248 shares during the last quarter. Exome Asset Management LLC increased its position in shares of Corbus Pharmaceuticals by 67.8% in the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock valued at $2,199,000 after acquiring an additional 94,593 shares during the period. Seven Fleet Capital Management LP purchased a new position in shares of Corbus Pharmaceuticals in the fourth quarter valued at about $462,000. Finally, Caption Management LLC raised its stake in shares of Corbus Pharmaceuticals by 170.1% during the fourth quarter. Caption Management LLC now owns 56,066 shares of the biopharmaceutical company’s stock valued at $456,000 after acquiring an additional 136,066 shares during the last quarter. Institutional investors own 64.64% of the company’s stock.

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.