Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $43.71 Consensus Price Target from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have received an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $43.7143.

A number of research analysts recently issued reports on the company. Oppenheimer boosted their price objective on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, February 18th.

Corbus Pharmaceuticals Stock Performance

Shares of NASDAQ:CRBP opened at $9.51 on Friday. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $20.56. The company’s fifty day moving average is $8.33 and its two-hundred day moving average is $10.53. The stock has a market capitalization of $168.71 million, a price-to-earnings ratio of -1.59 and a beta of 2.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, topping the consensus estimate of ($1.78) by $0.53. Sell-side analysts expect that Corbus Pharmaceuticals will post -4.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Dominic Smethurst sold 3,285 shares of Corbus Pharmaceuticals stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total value of $26,575.65. Following the sale, the insider directly owned 95,887 shares in the company, valued at $775,725.83. This trade represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in CRBP. Persistent Asset Partners Ltd bought a new position in Corbus Pharmaceuticals in the 4th quarter worth approximately $54,000. ADAR1 Capital Management LLC acquired a new stake in Corbus Pharmaceuticals in the 3rd quarter valued at approximately $129,000. Virtu Financial LLC bought a new stake in Corbus Pharmaceuticals during the 4th quarter valued at $88,000. Barclays PLC raised its stake in Corbus Pharmaceuticals by 280.0% during the 4th quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 10,874 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Corbus Pharmaceuticals in the fourth quarter worth $139,000. 64.64% of the stock is currently owned by institutional investors and hedge funds.

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.