Corbus Pharmaceuticals Holdings, Inc. (CRBP) Downgraded by ValuEngine to Sell
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday.
A number of other research analysts have also recently issued reports on CRBP. Cantor Fitzgerald set a $24.00 target price on Corbus Pharmaceuticals Holdings and gave the company a “buy” rating in a research report on Tuesday, June 13th. Noble Financial reiterated a “buy” rating on shares of Corbus Pharmaceuticals Holdings in a research report on Friday, June 16th. Finally, BidaskClub upgraded Corbus Pharmaceuticals Holdings from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.50.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) traded up 2.29% on Wednesday, reaching $6.70. 417,633 shares of the company’s stock were exchanged. The company’s market cap is $336.47 million. Corbus Pharmaceuticals Holdings has a 52 week low of $4.65 and a 52 week high of $10.78. The stock’s 50 day moving average is $6.40 and its 200 day moving average is $6.98.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. Corbus Pharmaceuticals Holdings had a negative return on equity of 107.10% and a negative net margin of 1,001.77%. The firm had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, equities analysts anticipate that Corbus Pharmaceuticals Holdings will post ($0.66) earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in CRBP. Bank of New York Mellon Corp grew its holdings in shares of Corbus Pharmaceuticals Holdings by 7.7% during the first quarter. Bank of New York Mellon Corp now owns 21,102 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 1,511 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Corbus Pharmaceuticals Holdings by 5.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 403,886 shares of the biopharmaceutical company’s stock worth $3,332,000 after purchasing an additional 21,125 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Corbus Pharmaceuticals Holdings during the first quarter worth about $114,000. SG Americas Securities LLC bought a new stake in shares of Corbus Pharmaceuticals Holdings during the first quarter worth about $148,000. Finally, IPG Investment Advisors LLC bought a new stake in shares of Corbus Pharmaceuticals Holdings during the first quarter worth about $109,000. Institutional investors own 31.78% of the company’s stock.
About Corbus Pharmaceuticals Holdings
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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