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

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $44.3750.

Several research analysts have weighed in on CRBP shares. Benchmark reaffirmed a “reduce” rating on shares of Corbus Pharmaceuticals in a research note on Monday, October 20th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Corbus Pharmaceuticals in a research report on Monday, October 20th. Mizuho set a $39.00 target price on Corbus Pharmaceuticals in a research report on Wednesday, October 29th. Royal Bank Of Canada lowered their price target on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, October 8th.

Corbus Pharmaceuticals Stock Up 2.3%

CRBP stock opened at $8.86 on Friday. Corbus Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $20.56. The stock has a market cap of $155.49 million, a price-to-earnings ratio of -1.61 and a beta of 2.77. The business has a fifty day moving average of $9.43 and a two-hundred day moving average of $10.68.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.10). As a group, sell-side analysts anticipate that Corbus Pharmaceuticals will post -4.23 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Yuval Cohen sold 8,973 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $17.14, for a total value of $153,797.22. Following the sale, the chief executive officer owned 138,187 shares of the company’s stock, valued at $2,368,525.18. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $11.46, for a total transaction of $344,132.34. Following the transaction, the insider owned 2,344,971 shares of the company’s stock, valued at $26,873,367.66. This trade represents a 1.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Aberdeen Group plc raised its position in shares of Corbus Pharmaceuticals by 168.6% during the 2nd quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock worth $498,000 after acquiring an additional 45,332 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Corbus Pharmaceuticals in the third quarter valued at approximately $1,080,000. Y Intercept Hong Kong Ltd purchased a new position in Corbus Pharmaceuticals in the second quarter valued at approximately $141,000. Corton Capital Inc. acquired a new stake in Corbus Pharmaceuticals during the second quarter worth approximately $86,000. Finally, Velan Capital Investment Management LP lifted its position in shares of Corbus Pharmaceuticals by 3.4% during the 3rd quarter. Velan Capital Investment Management LP now owns 61,000 shares of the biopharmaceutical company’s stock worth $772,000 after buying an additional 2,000 shares during the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

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.