Corbus Pharmaceuticals’ (CRBP) “Buy” Rating Reaffirmed at Guggenheim

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports. They currently have a $45.00 target price on the biopharmaceutical company’s stock. Guggenheim’s price objective points to a potential upside of 285.60% from the company’s current price.

A number of other brokerages also recently issued reports on CRBP. Oppenheimer increased their price objective on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Finally, Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Corbus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Corbus Pharmaceuticals Trading Up 2.1%

Shares of CRBP stock traded up $0.24 during trading hours on Wednesday, reaching $11.67. The stock had a trading volume of 35,657 shares, compared to its average volume of 218,506. The stock’s fifty day simple moving average is $9.70 and its 200 day simple moving average is $9.70. The firm has a market capitalization of $207.03 million, a PE ratio of -1.95 and a beta of 2.68. Corbus Pharmaceuticals has a 12 month low of $6.72 and a 12 month high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.03. As a group, equities research analysts anticipate that Corbus Pharmaceuticals will post -4.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently bought and sold shares of CRBP. Dimensional Fund Advisors LP grew its position in Corbus Pharmaceuticals by 76.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company’s stock worth $1,281,000 after acquiring an additional 59,248 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in Corbus Pharmaceuticals in the fourth quarter valued at $462,000. Virtu Financial LLC purchased a new position in Corbus Pharmaceuticals during the 4th quarter valued at $88,000. Quadrature Capital Ltd purchased a new position in Corbus Pharmaceuticals during the 4th quarter valued at $243,000. Finally, Orbimed Advisors LLC raised its holdings in Corbus Pharmaceuticals by 36.3% in the 4th quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock worth $13,002,000 after purchasing an additional 425,000 shares in the last quarter. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

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.