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

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

CRBP has been the subject of several recent analyst reports. Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Oppenheimer reduced their target price on shares of Corbus Pharmaceuticals from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 17th. Mizuho lowered their target price on shares of Corbus Pharmaceuticals from $44.00 to $34.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group cut their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, May 12th.

Insider Activity at Corbus Pharmaceuticals

In other news, Director John Kenneth Jenkins sold 4,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was 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 of the company’s stock, valued at $30,319.03. The trade was a 55.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nishant C. Saxena purchased 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of $7.58 per share, for a total transaction of $68,220.00. Following the completion of the transaction, the insider owned 75,300 shares in the company, valued at $570,774. The trade was a 13.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 9,238 shares of company stock valued at $73,073. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Seven Fleet Capital Management LP grew its holdings 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 worth $805,000 after purchasing an additional 28,937 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Corbus Pharmaceuticals by 53,592.3% in 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. Royal Bank of Canada raised its holdings in shares of Corbus Pharmaceuticals by 81.2% in the first quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company’s stock valued at $281,000 after buying an additional 13,401 shares during the last quarter. Exome Asset Management LLC lifted 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 buying an additional 94,593 shares in the last quarter. Finally, Orbimed Advisors LLC lifted its position in Corbus Pharmaceuticals by 8.8% during the 1st quarter. Orbimed Advisors LLC now owns 1,737,287 shares of the biopharmaceutical company’s stock worth $16,313,000 after buying an additional 140,000 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Down 2.3%

CRBP stock opened at $8.80 on Friday. Corbus Pharmaceuticals has a 1-year low of $7.12 and a 1-year high of $20.56. The business’s 50 day moving average is $9.04 and its 200-day moving average is $8.93. The firm has a market cap of $163.06 million, a P/E ratio of -1.51 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, topping the consensus estimate of ($1.26) by $0.03. Sell-side analysts forecast that Corbus Pharmaceuticals will post -4.87 EPS for the current year.

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.