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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $43.8750.

Several research firms recently commented on CRBP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Monday, April 20th. Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, February 18th. Oppenheimer upped their price objective on shares of Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Guggenheim assumed coverage on shares of Corbus Pharmaceuticals in a research report on Wednesday, April 29th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th.

Corbus Pharmaceuticals Stock Up 0.8%

NASDAQ CRBP opened at $10.96 on Friday. Corbus Pharmaceuticals has a 52 week low of $6.32 and a 52 week high of $20.56. The stock has a market capitalization of $194.43 million, a PE ratio of -1.83 and a beta of 2.68. The firm has a 50 day moving average of $9.52 and a two-hundred day moving average of $9.86.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) EPS for the quarter, topping the consensus estimate of ($1.78) by $0.53. On average, equities research analysts expect that Corbus Pharmaceuticals will post -4.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of large investors have recently made changes to their positions in CRBP. Persistent Asset Partners Ltd purchased a new position in shares of Corbus Pharmaceuticals in the 4th quarter valued at about $54,000. Virtu Financial LLC purchased a new position in shares of Corbus Pharmaceuticals in the 4th quarter valued at about $88,000. Barclays PLC increased its holdings in shares of Corbus Pharmaceuticals by 280.0% in the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 10,874 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the 3rd quarter valued at about $129,000. Finally, Marshall Wace LLP acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter valued at about $137,000. Hedge funds and other 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.