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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $41.1250.

CRBP has been the subject of a number of research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a report on Friday, July 17th. Jefferies Financial Group decreased their price target on shares of Corbus Pharmaceuticals from $36.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Wedbush lowered their price target on shares of Corbus Pharmaceuticals from $38.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 27th. Guggenheim reaffirmed a "buy" rating on shares of Corbus Pharmaceuticals in a research note on Tuesday, May 26th. Finally, Oppenheimer cut their price objective on shares of Corbus Pharmaceuticals from $52.00 to $48.00 and set an "outperform" rating for the company in a report on Friday.

Corbus Pharmaceuticals Price Performance

• Corbus Pharmaceuticals NASDAQ: CRBP Gives a Bold Buy Signal

NASDAQ:CRBP opened at $9.46 on Tuesday. The company has a 50 day moving average price of $8.76 and a 200-day moving average price of $9.06. Corbus Pharmaceuticals has a 1-year low of $7.12 and a 1-year high of $20.56. The firm has a market cap of $175.29 million, a price-to-earnings ratio of -1.53 and a beta of 2.59.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.55). On average, sell-side analysts anticipate that Corbus Pharmaceuticals will post -4.87 earnings per share for the current fiscal year.

Insider Activity

In other Corbus Pharmaceuticals news, CFO Sean F. Moran sold 12,000 shares of Corbus Pharmaceuticals stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $10.08, for a total value of $120,960.00. Following the completion of the transaction, the chief financial officer directly owned 84,694 shares of the company's stock, valued at $853,715.52. The trade was a 12.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Yuval Cohen sold 17,000 shares of the company's 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 $171,360.00. Following the sale, the chief executive officer directly 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. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 38,238 shares of company stock worth $365,393. Company insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in Corbus Pharmaceuticals during the 2nd quarter worth about $425,000. Seven Fleet Capital Management LP increased its holdings in shares of Corbus Pharmaceuticals by 51.0% in the 1st quarter. Seven Fleet Capital Management LP now owns 85,687 shares of the biopharmaceutical company's stock valued at $805,000 after acquiring an additional 28,937 shares during the last quarter. Bank of America Corp DE raised its position in shares of Corbus Pharmaceuticals by 53,592.3% during the 1st quarter. Bank of America Corp DE now owns 13,960 shares of the biopharmaceutical company's stock worth $131,000 after acquiring an additional 13,934 shares in the last quarter. Royal Bank of Canada raised its position in shares of Corbus Pharmaceuticals by 81.2% during the 1st quarter. Royal Bank of Canada now owns 29,901 shares of the biopharmaceutical company's stock worth $281,000 after acquiring an additional 13,401 shares in the last quarter. Finally, Exome Asset Management LLC lifted its stake in Corbus Pharmaceuticals by 67.8% during the first quarter. Exome Asset Management LLC now owns 234,136 shares of the biopharmaceutical company's stock worth $2,199,000 after purchasing an additional 94,593 shares during the last quarter. Institutional investors and hedge funds own 64.64% of the company's stock.

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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