Corbus Pharmaceuticals' (CRBP) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated its “Buy” rating on Corbus Pharmaceuticals and maintained a $35 price target, implying approximately 322% upside from the stock’s $8.29 trading price.
• Analyst sentiment remains broadly positive, with eight Buy ratings and two Sell ratings; the consensus rating is “Moderate Buy” with an average price target of $41.
• Corbus reported a quarterly loss of $1.81 per share, missing the $1.26 consensus estimate, while its CEO and CFO recently sold shares worth a combined $292,320.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $35.00 target price on the biopharmaceutical company's stock. HC Wainwright's price objective would indicate a potential upside of 321.94% from the company's current price.

A number of other brokerages have also commented on CRBP. Wall Street Zen lowered shares of Corbus Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Wedbush dropped their price target on Corbus Pharmaceuticals from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, May 27th. Guggenheim reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a report on Tuesday, May 26th. Oppenheimer lowered their price target on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Finally, Mizuho set a $33.00 price objective on shares of Corbus Pharmaceuticals in a report on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.

Corbus Pharmaceuticals Price Performance

• Corbus Pharmaceuticals NASDAQ: CRBP Gives a Bold Buy Signal

NASDAQ CRBP traded up $0.17 during trading on Monday, reaching $8.29. 6,905,243 shares of the company's stock were exchanged, compared to its average volume of 413,084. The business has a 50 day moving average price of $9.77 and a 200-day moving average price of $9.44. The stock has a market capitalization of $154.87 million, a P/E ratio of -1.35 and a beta of 2.63. Corbus Pharmaceuticals has a fifty-two week low of $7.12 and a fifty-two week high of $20.56.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.55). On average, analysts forecast that Corbus Pharmaceuticals will post -5.62 earnings per share for the current year.

Insider Buying and Selling at Corbus Pharmaceuticals

In related news, CFO Sean F. Moran sold 12,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $10.08, for a total transaction of $120,960.00. Following the completion of the sale, the chief financial officer directly owned 84,694 shares of the company's stock, valued at approximately $853,715.52. This trade represents a 12.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Yuval Cohen sold 17,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $10.08, for a total value of $171,360.00. Following the completion of the sale, the chief executive officer owned 157,316 shares in the company, valued at approximately $1,585,745.28. The trade was a 9.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in Corbus Pharmaceuticals in the first quarter worth $573,000. Marshall Wace LLP purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter worth $137,000. Bank of America Corp DE raised its position in shares of Corbus Pharmaceuticals by 333.6% in the 2nd quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company's stock worth $496,000 after purchasing an additional 55,314 shares during the last quarter. Vanguard Group Inc. grew its position in Corbus Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company's stock valued at $7,742,000 after purchasing an additional 12,535 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in Corbus Pharmaceuticals in the third quarter worth about $129,000. 64.64% of the stock is currently owned by 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.

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