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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $42.00.

Several research analysts have recently commented on the company. Mizuho lifted their target price on Corbus Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Jefferies Financial Group reduced their target price on Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Guggenheim reiterated a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday.

Corbus Pharmaceuticals Trading Down 1.1%

Shares of NASDAQ CRBP opened at $7.82 on Thursday. Corbus Pharmaceuticals has a 12 month low of $6.72 and a 12 month high of $20.56. The stock has a 50 day moving average of $9.99 and a 200-day moving average of $9.38. The company has a market capitalization of $144.90 million, a P/E ratio of -1.34 and a beta of 2.68.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.03. Analysts predict that Corbus Pharmaceuticals will post -4.83 EPS for the current fiscal year.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in CRBP. Aberdeen Group plc boosted its stake in Corbus Pharmaceuticals by 602.2% in the 4th quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock valued at $10,759,000 after purchasing an additional 1,133,519 shares during the period. Orbimed Advisors LLC boosted its stake in Corbus Pharmaceuticals by 36.3% in the 4th quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock valued at $13,002,000 after purchasing an additional 425,000 shares during the period. Armistice Capital LLC boosted its stake in Corbus Pharmaceuticals by 179.2% in the 4th quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock valued at $4,363,000 after purchasing an additional 344,000 shares during the period. Prosight Management LP boosted its stake in Corbus Pharmaceuticals by 99.1% in the 4th quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock valued at $5,567,000 after purchasing an additional 340,472 shares during the period. Finally, ADAR1 Capital Management LLC boosted its stake in Corbus Pharmaceuticals by 2,711.6% in the 4th quarter. ADAR1 Capital Management LLC now owns 286,781 shares of the biopharmaceutical company’s stock valued at $2,334,000 after purchasing an additional 276,581 shares during the period. 64.64% of the stock is currently owned by institutional investors.

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.