Zacks Investment Research Lowers Corbus Pharmaceuticals (NASDAQ:CRBP) to Hold

Zacks Investment Research lowered shares of Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. “

Separately, StockNews.com started coverage on shares of Corbus Pharmaceuticals in a report on Sunday, May 8th. They issued a hold rating on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $1.83.

Shares of NASDAQ CRBP opened at $0.21 on Tuesday. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average is $0.39 and its two-hundred day moving average is $0.56. Corbus Pharmaceuticals has a 52-week low of $0.21 and a 52-week high of $2.29.

Corbus Pharmaceuticals (NASDAQ:CRBPGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Corbus Pharmaceuticals had a negative net margin of 2,856.56% and a negative return on equity of 52.32%. On average, research analysts forecast that Corbus Pharmaceuticals will post -0.29 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Spire Wealth Management purchased a new stake in Corbus Pharmaceuticals during the fourth quarter valued at approximately $28,000. Penserra Capital Management LLC raised its holdings in shares of Corbus Pharmaceuticals by 19.2% in the third quarter. Penserra Capital Management LLC now owns 434,874 shares of the biopharmaceutical company’s stock worth $443,000 after buying an additional 69,910 shares during the period. Vident Investment Advisory LLC purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter worth approximately $150,000. BlackRock Inc. raised its holdings in shares of Corbus Pharmaceuticals by 8.7% in the third quarter. BlackRock Inc. now owns 2,566,443 shares of the biopharmaceutical company’s stock worth $2,618,000 after buying an additional 204,372 shares during the period. Finally, Davy Global Fund Management Ltd raised its holdings in shares of Corbus Pharmaceuticals by 10.0% in the fourth quarter. Davy Global Fund Management Ltd now owns 318,668 shares of the biopharmaceutical company’s stock worth $196,000 after buying an additional 29,041 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

Corbus Pharmaceuticals Company Profile (Get Rating)

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases.

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