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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $43.8750.

A number of equities analysts recently issued reports on CRBP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Oppenheimer lifted their target price on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Jefferies Financial Group raised Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, February 18th. Finally, Guggenheim began coverage on Corbus Pharmaceuticals in a report on Wednesday. They set a “buy” rating and a $45.00 price target on the stock.

Insider Transactions at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, insider Dominic Smethurst sold 3,285 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total transaction of $26,575.65. Following the transaction, the insider owned 95,887 shares of the company’s stock, valued at approximately $775,725.83. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRBP. Persistent Asset Partners Ltd acquired a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at approximately $54,000. ADAR1 Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the third quarter worth approximately $129,000. Virtu Financial LLC acquired a new stake in Corbus Pharmaceuticals in the fourth quarter worth approximately $88,000. Barclays PLC boosted its stake in Corbus Pharmaceuticals by 280.0% during 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. Finally, Hudson Bay Capital Management LP bought a new position in Corbus Pharmaceuticals during the 4th quarter valued at $139,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Stock Up 4.3%

CRBP opened at $10.30 on Friday. The firm has a market cap of $182.72 million, a price-to-earnings ratio of -1.72 and a beta of 2.68. Corbus Pharmaceuticals has a fifty-two week low of $6.10 and a fifty-two week high of $20.56. The company’s 50-day moving average price is $9.32 and its 200 day moving average price is $10.06.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, topping the consensus estimate of ($1.78) by $0.53. Research analysts anticipate that Corbus Pharmaceuticals will post -4.78 earnings per share for the current year.

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.