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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $40.6667.

Several research firms have recently weighed in on CRBP. Wall Street Zen raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Wedbush lowered their price objective on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Mizuho decreased their target price on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Oppenheimer lowered their price target on Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, June 17th. Finally, Jefferies Financial Group lowered their price objective on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th.

Corbus Pharmaceuticals Stock Up 5.4%

CRBP stock opened at $9.32 on Friday. The business has a 50 day moving average price of $8.79 and a 200 day moving average price of $8.97. Corbus Pharmaceuticals has a fifty-two week low of $7.12 and a fifty-two week high of $20.56. The stock has a market cap of $172.70 million, a price-to-earnings ratio of -1.60 and a beta of 2.55.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.03. As a group, sell-side analysts anticipate that Corbus Pharmaceuticals will post -4.87 EPS for the current year.

Insiders Place Their Bets

In other Corbus Pharmaceuticals news, Director John Kenneth Jenkins sold 4,800 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.91, for a total value of $37,968.00. Following the transaction, the director directly owned 3,833 shares in the company, valued at approximately $30,319.03. This represents a 55.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nishant C. Saxena bought 9,000 shares of Corbus Pharmaceuticals stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average price of $7.58 per share, for a total transaction of $68,220.00. Following the completion of the acquisition, the insider owned 75,300 shares in the company, valued at $570,774. This represents a 13.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,238 shares of company stock worth $73,073. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Seven Fleet Capital Management LP lifted its stake in shares of Corbus Pharmaceuticals by 51.0% during the first quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company’s stock valued at $805,000 after buying an additional 28,937 shares during the period. Bank of America Corp DE grew its stake in shares of Corbus Pharmaceuticals by 53,592.3% during the 1st 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 period. Royal Bank of Canada increased its stake in Corbus Pharmaceuticals by 81.2% during the first quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock worth $281,000 after acquiring an additional 13,401 shares during the last quarter. Exome Asset Management LLC increased its position in Corbus Pharmaceuticals by 67.8% during the 1st quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company’s stock worth $2,199,000 after purchasing an additional 94,593 shares in the last quarter. Finally, Orbimed Advisors LLC increased its position in shares of Corbus Pharmaceuticals by 8.8% in the first quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after acquiring an additional 140,000 shares in the last quarter. Institutional investors and hedge funds 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.