Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts give Corbus Pharmaceuticals a “Moderate Buy” consensus: Eight of ten analysts rate the stock a buy, while two recommend selling. The average 12-month price target is $41.00.
• Shares opened at $6.63, near their 52-week low, with a market capitalization of about $123.8 million. The company reported a quarterly loss of $1.81 per share, missing the consensus estimate of a $1.26 loss.
• Institutional investors own approximately 64.64% of the stock, with several funds increasing their positions. Recent insider activity was mixed, including a CFO share sale and an insider purchase.

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $41.00.

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $35.00 price objective on shares of Corbus Pharmaceuticals in a research note on Monday, September 14th. Oppenheimer reduced their target price on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an "outperform" rating for the company in a report on Friday, August 7th. Mizuho set a $33.00 price target on shares of Corbus Pharmaceuticals in a report on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. Finally, 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.

Corbus Pharmaceuticals Stock Down 4.2%

• Corbus Pharmaceuticals NASDAQ: CRBP Gives a Bold Buy Signal

Shares of NASDAQ:CRBP opened at $6.63 on Wednesday. The company has a market capitalization of $123.79 million, a price-to-earnings ratio of -1.07 and a beta of 2.63. Corbus Pharmaceuticals has a 52 week low of $6.32 and a 52 week high of $20.56. The firm has a 50 day moving average of $9.34 and a 200 day moving average of $9.34.

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

Insider Buying and Selling at Corbus Pharmaceuticals

In other news, CFO Sean F. Moran sold 12,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 84,694 shares of the company's stock, valued at approximately $853,715.52. This represents a 12.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nishant C. Saxena acquired 2,600 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average price of $9.63 per share, with a total value of $25,038.00. Following the acquisition, the insider owned 77,900 shares in the company, valued at approximately $750,177. The trade was a 3.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 31,000 shares of company stock worth $308,000 over the last three months. Corporate insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRBP. Orbimed Advisors LLC boosted its holdings in 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. Exome Asset Management LLC increased its holdings in shares of Corbus Pharmaceuticals by 67.8% during the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company's stock valued at $2,199,000 after acquiring an additional 94,593 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Corbus Pharmaceuticals by 76.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 136,602 shares of the biopharmaceutical company's stock valued at $1,281,000 after purchasing an additional 59,248 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Corbus Pharmaceuticals in the 4th quarter valued at approximately $462,000. Finally, Bank of New York Mellon Corp acquired a new stake in Corbus Pharmaceuticals in the 2nd quarter worth approximately $425,000. 64.64% of the stock is owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a biopharmaceutical company focused on developing medicines for serious diseases in oncology and immunology. The company's research programs are designed to target biological pathways involved in tumor growth, immune regulation and tissue fibrosis.

Corbus's oncology pipeline includes CRB-701, an antibody-drug conjugate designed to target Nectin-4, a protein expressed on several solid tumors. The company is also developing CRB-601, an investigational monoclonal antibody directed at the alpha v beta 6 integrin, a target associated with tumor biology and fibrotic disease.

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