Corbus Pharmaceuticals Holdings, Inc. (CRBP) Rating Reiterated by Noble Financial
Noble Financial reiterated their buy rating on shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage currently has a $16.00 price objective on the biopharmaceutical company’s stock.
Several other equities research analysts have also recently issued reports on the company. BidaskClub upgraded Corbus Pharmaceuticals Holdings from a strong sell rating to a sell rating in a report on Friday, August 25th. ValuEngine downgraded Corbus Pharmaceuticals Holdings from a hold rating to a sell rating in a research report on Wednesday, September 13th. Finally, Cantor Fitzgerald set a $24.00 price objective on Corbus Pharmaceuticals Holdings and gave the company a buy rating in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $19.75.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) opened at 7.40 on Friday. Corbus Pharmaceuticals Holdings has a 12-month low of $4.65 and a 12-month high of $10.78. The stock’s market capitalization is $371.63 million. The stock’s 50 day moving average price is $6.75 and its 200-day moving average price is $6.74.
Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. The firm had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.50 million. Corbus Pharmaceuticals Holdings had a negative net margin of 1,001.77% and a negative return on equity of 107.10%. Analysts expect that Corbus Pharmaceuticals Holdings will post ($0.66) earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in Corbus Pharmaceuticals Holdings in the first quarter valued at approximately $114,000. SG Americas Securities LLC purchased a new position in Corbus Pharmaceuticals Holdings during the first quarter worth approximately $148,000. Credit Suisse AG purchased a new position in Corbus Pharmaceuticals Holdings during the first quarter worth approximately $157,000. Voya Investment Management LLC purchased a new position in Corbus Pharmaceuticals Holdings during the second quarter worth approximately $125,000. Finally, Evanson Asset Management LLC raised its stake in Corbus Pharmaceuticals Holdings by 1.5% during the second quarter. Evanson Asset Management LLC now owns 20,660 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 31.78% of the company’s stock.
About Corbus Pharmaceuticals Holdings
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.
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