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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $44.3750.

Several analysts have recently weighed in on CRBP shares. Wedbush lifted their price objective on Corbus Pharmaceuticals from $31.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Oppenheimer decreased their price target on shares of Corbus Pharmaceuticals from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 8th. Mizuho set a $39.00 price objective on shares of Corbus Pharmaceuticals in a report on Wednesday, October 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th.

Corbus Pharmaceuticals Stock Performance

NASDAQ:CRBP opened at $10.67 on Thursday. The firm’s 50-day moving average is $13.59 and its 200-day moving average is $10.54. The company has a market cap of $187.29 million, a price-to-earnings ratio of -1.94 and a beta of 2.71. Corbus Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). Equities analysts predict that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Insider Activity at Corbus Pharmaceuticals

In other news, CEO Yuval Cohen sold 8,973 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $17.14, for a total value of $153,797.22. Following the completion of the transaction, the chief executive officer directly owned 138,187 shares of the company’s stock, valued at approximately $2,368,525.18. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sean F. Moran sold 12,981 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $17.02, for a total value of $220,936.62. Following the completion of the sale, the chief financial officer directly owned 73,313 shares in the company, valued at approximately $1,247,787.26. This represents a 15.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,674 shares of company stock worth $713,870. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Large investors have recently made changes to their positions in the company. Corton Capital Inc. acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $86,000. ADAR1 Capital Management LLC bought a new stake in Corbus Pharmaceuticals during the third quarter worth about $129,000. Marshall Wace LLP acquired a new stake in shares of Corbus Pharmaceuticals during the second quarter worth approximately $137,000. Baker Avenue Asset Management LP bought a new position in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $138,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Corbus Pharmaceuticals in the second quarter valued at approximately $141,000. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.