Corbus Pharmaceuticals (CRBP) Cut to Hold at BidaskClub

Corbus Pharmaceuticals (NASDAQ:CRBP) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other research analysts also recently commented on the stock. Noble Financial reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Friday, December 29th. Cantor Fitzgerald set a $28.00 price objective on shares of Corbus Pharmaceuticals and gave the company an “overweight” rating in a research report on Thursday, December 14th. Finally, Raymond James Financial started coverage on shares of Corbus Pharmaceuticals in a research report on Friday, January 19th. They issued an “outperform” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Corbus Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $24.75.

Corbus Pharmaceuticals (NASDAQ CRBP) traded down $0.05 during trading on Friday, reaching $7.05. 1,048,484 shares of the company were exchanged, compared to its average volume of 1,080,000. The company has a market capitalization of $384.13, a P/E ratio of -11.37 and a beta of 151.35. Corbus Pharmaceuticals has a 1-year low of $5.30 and a 1-year high of $10.50.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Corbus Pharmaceuticals had a negative net margin of 1,040.41% and a negative return on equity of 96.02%. The company had revenue of $0.80 million during the quarter. equities research analysts predict that Corbus Pharmaceuticals will post -0.6 EPS for the current year.

In related news, Director David P. Hochman bought 5,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $6.90 per share, for a total transaction of $34,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David P. Hochman bought 10,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $7.08 per share, with a total value of $70,800.00. Following the purchase, the director now owns 459,500 shares in the company, valued at approximately $3,253,260. The disclosure for this purchase can be found here. In the last three months, insiders bought 25,336 shares of company stock valued at $175,632. Insiders own 11.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Corbus Pharmaceuticals by 9.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 150,135 shares of the biopharmaceutical company’s stock worth $1,073,000 after buying an additional 13,323 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth about $108,000. Yellowstone Partners LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 3rd quarter worth about $110,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Corbus Pharmaceuticals by 4.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 444,504 shares of the biopharmaceutical company’s stock worth $3,178,000 after buying an additional 18,224 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $125,000. Institutional investors own 27.57% of the company’s stock.

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About Corbus Pharmaceuticals

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.

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