Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Given Average Rating of “Moderate Buy” by Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.00.

A number of equities research analysts have commented on the company. Wedbush reduced their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Guggenheim reissued a “buy” rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Monday, April 20th.

Corbus Pharmaceuticals Stock Performance

Shares of Corbus Pharmaceuticals stock opened at $7.75 on Thursday. Corbus Pharmaceuticals has a 52 week low of $6.72 and a 52 week high of $20.56. The stock has a 50 day moving average price of $9.90 and a two-hundred day moving average price of $9.33. The stock has a market capitalization of $143.59 million, a PE ratio of -1.33 and a beta of 2.68.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.03. Research analysts forecast that Corbus Pharmaceuticals will post -4.87 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Persistent Asset Partners Ltd purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at approximately $54,000. ADAR1 Capital Management LLC purchased a new position in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $129,000. Virtu Financial LLC purchased a new position in shares of Corbus Pharmaceuticals during the fourth quarter valued at approximately $88,000. Bank of America Corp DE boosted its position in shares of 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 buying an additional 13,934 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of 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 buying an additional 10,874 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Company Profile

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.