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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.3750.

CRBP has been the subject of several analyst reports. Benchmark reissued a “reduce” rating on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. Mizuho set a $39.00 price target on Corbus Pharmaceuticals in a report on Wednesday, October 29th. Wedbush raised their price target on Corbus Pharmaceuticals from $31.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Royal Bank Of Canada dropped their price objective on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $51.00 target price on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 12,981 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $17.02, for a total value of $220,936.62. Following the transaction, the chief financial officer directly owned 73,313 shares in the company, valued at $1,247,787.26. This represents a 15.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $11.46, for a total transaction of $344,132.34. Following the transaction, the insider directly owned 2,344,971 shares in the company, valued at approximately $26,873,367.66. This trade represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 71,703 shares of company stock valued at $1,058,003 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Corbus Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock worth $7,742,000 after purchasing an additional 12,535 shares during the period. Exome Asset Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 1st quarter worth $1,538,000. Armistice Capital LLC grew its position in shares of Corbus Pharmaceuticals by 5.9% during the 1st quarter. Armistice Capital LLC now owns 250,000 shares of the biopharmaceutical company’s stock worth $1,328,000 after buying an additional 14,000 shares in the last quarter. Comerica Bank increased its stake in shares of Corbus Pharmaceuticals by 20,000,000.0% during the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock valued at $1,062,000 after buying an additional 200,000 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the first quarter valued at $1,007,000. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Down 1.2%

CRBP stock opened at $8.33 on Monday. Corbus Pharmaceuticals has a twelve month low of $4.64 and a twelve month high of $20.56. The stock has a market capitalization of $146.19 million, a price-to-earnings ratio of -1.51 and a beta of 2.71. The firm’s fifty day simple moving average is $11.65 and its two-hundred day simple moving average is $10.69.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). As a group, equities research analysts expect that Corbus Pharmaceuticals will post -4.23 EPS 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.