Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Recommendation 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 research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $44.3750.

CRBP has been the topic of a number of research reports. Royal Bank Of Canada lowered their target price on shares of Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Benchmark reissued a “reduce” rating on shares of Corbus Pharmaceuticals in a report on Monday, October 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $51.00 price target on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th.

Insider Activity at Corbus Pharmaceuticals

In other Corbus Pharmaceuticals news, CEO Yuval Cohen sold 8,973 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $17.14, for a total value of $153,797.22. Following the transaction, the chief executive officer directly owned 138,187 shares of the company’s stock, valued at approximately $2,368,525.18. The trade was a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 2,344,971 shares of the company’s stock, valued at $26,873,367.66. This trade represents a 1.26% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRBP. Aberdeen Group plc lifted its position in Corbus Pharmaceuticals by 602.2% in the fourth 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. Assenagon Asset Management S.A. lifted its holdings in shares of Corbus Pharmaceuticals by 120.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 187,956 shares of the biopharmaceutical company’s stock valued at $1,530,000 after buying an additional 102,609 shares during the period. Velan Capital Investment Management LP lifted its holdings in shares of Corbus Pharmaceuticals by 3.4% in the 3rd quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock valued at $772,000 after buying an additional 2,000 shares during the period. Mariner LLC boosted its stake in shares of Corbus Pharmaceuticals by 34.0% in the third quarter. Mariner LLC now owns 20,840 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 5,289 shares in the last quarter. Finally, HighVista Strategies LLC grew its holdings in Corbus Pharmaceuticals by 56.8% during the third quarter. HighVista Strategies LLC now owns 118,027 shares of the biopharmaceutical company’s stock worth $1,493,000 after acquiring an additional 42,735 shares during the period. 64.64% of the stock is owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $8.86 on Friday. The stock’s 50-day moving average is $9.43 and its two-hundred day moving average is $10.68. Corbus Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $20.56. The firm has a market cap of $155.49 million, a price-to-earnings ratio of -1.61 and a beta of 2.77.

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

Corbus Pharmaceuticals Company Profile

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.