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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $41.7778.

CRBP has been the topic of several research analyst reports. Mizuho raised their target price on shares of Corbus Pharmaceuticals from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Monday, April 20th. Wall Street Zen raised shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Oppenheimer decreased their target price on shares of Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th.

Insider Transactions at Corbus Pharmaceuticals

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

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new stake in Corbus Pharmaceuticals during the fourth quarter valued at about $54,000. ADAR1 Capital Management LLC purchased a new stake in Corbus Pharmaceuticals during the third quarter valued at about $129,000. Virtu Financial LLC purchased a new stake in Corbus Pharmaceuticals during the fourth quarter valued at about $88,000. Bank of America Corp DE grew its position in Corbus Pharmaceuticals by 53,592.3% during the first quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 13,934 shares during the period. Finally, Barclays PLC grew its position in Corbus Pharmaceuticals by 280.0% during the fourth quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 10,874 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Stock Performance

Corbus Pharmaceuticals stock opened at $8.26 on Monday. The firm has a market capitalization of $153.06 million, a P/E ratio of -1.42 and a beta of 2.57. The stock has a fifty day moving average price of $9.51 and a 200 day moving average price of $8.97. Corbus Pharmaceuticals has a 52 week low of $6.72 and a 52 week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.03. As a group, equities analysts predict that Corbus Pharmaceuticals will post -4.87 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.