Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Upgraded by Wall Street Zen

Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Several other brokerages have also issued reports on CRBP. Mizuho boosted their target price on shares of Corbus Pharmaceuticals from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th. Wedbush cut their price objective on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Finally, Oppenheimer cut their price target on Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, Corbus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $41.78.

Corbus Pharmaceuticals Stock Performance

CRBP stock opened at $8.26 on Friday. The company has a market cap of $153.06 million, a price-to-earnings ratio of -1.42 and a beta of 2.57. The business’s 50-day moving average is $9.51 and its two-hundred day moving average is $8.98. Corbus Pharmaceuticals has a fifty-two week low of $6.72 and a fifty-two week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.03. Equities analysts predict that Corbus Pharmaceuticals will post -4.87 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Nishant C. Saxena acquired 9,000 shares of Corbus Pharmaceuticals stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of $7.58 per share, with a total value of $68,220.00. Following the completion of the purchase, the insider directly owned 75,300 shares in the company, valued at approximately $570,774. This trade represents a 13.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Kenneth Jenkins sold 4,800 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total transaction of $37,968.00. Following the sale, the director owned 3,833 shares in the company, valued at $30,319.03. The trade was a 55.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,238 shares of company stock valued at $73,073. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Corbus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBP. Orbimed Advisors LLC raised its position in shares of Corbus Pharmaceuticals by 8.8% during the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock valued at $16,313,000 after buying an additional 140,000 shares in the last quarter. Aberdeen Group plc increased its stake in Corbus Pharmaceuticals by 602.2% during the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock worth $10,759,000 after acquiring an additional 1,133,519 shares during the last quarter. Prosight Management LP increased its stake in Corbus Pharmaceuticals by 99.1% during the fourth quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock worth $5,567,000 after acquiring an additional 340,472 shares during the last quarter. Vanguard Group Inc. raised its position in Corbus Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after purchasing an additional 12,535 shares during the period. Finally, Armistice Capital LLC raised its position in Corbus Pharmaceuticals by 179.2% during the fourth 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. Institutional investors own 64.64% of the company’s stock.

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.