Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Upgraded by Guggenheim

Key Points

• Guggenheim upgraded Corbus Pharmaceuticals (NASDAQ:CRBP) to a "strong-buy"; overall analyst mix is mixed but leans positive with three Strong Buy, six Buy and two Sell ratings and a consensus rating of Moderate Buy and an average target of $43.88.
• Shares opened at $9.88, trading within a one-year range of $6.10–$20.56, with a market cap of about $175.3 million, a negative P/E (-1.65), and technicals showing a 50-day SMA of $9.32 versus a 200-day SMA of $10.11.
• Insider Dominic Smethurst sold 3,285 shares in February, while institutional ownership is high at 64.64% after sizable stake increases by funds including Aberdeen, OrbiMed, Armistice, Prosight and ADAR1.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) was upgraded by analysts at Guggenheim to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also commented on CRBP. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research report on Monday, April 20th. Wall Street Zen raised Corbus Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Oppenheimer boosted their price objective on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an "outperform" rating in a report on Tuesday, March 10th. Finally, Jefferies Financial Group raised Corbus Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.88.

Corbus Pharmaceuticals Price Performance

Shares of Corbus Pharmaceuticals stock opened at $9.88 on Wednesday. Corbus Pharmaceuticals has a one year low of $6.10 and a one year high of $20.56. The firm has a market capitalization of $175.27 million, a price-to-earnings ratio of -1.65 and a beta of 2.78. The business has a 50-day simple moving average of $9.32 and a 200 day simple moving average of $10.11.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) EPS for the quarter, beating analysts' consensus estimates of ($1.78) by $0.53. On average, sell-side analysts expect that Corbus Pharmaceuticals will post -4.78 EPS for the current year.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, insider Dominic Smethurst sold 3,285 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total transaction of $26,575.65. Following the completion of the sale, the insider directly owned 95,887 shares of the company's stock, valued at approximately $775,725.83. The trade was a 3.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company's stock.

Institutional Trading of Corbus Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc grew its holdings in shares of Corbus Pharmaceuticals by 602.2% in the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company's stock valued at $10,759,000 after acquiring an additional 1,133,519 shares in the last quarter. Orbimed Advisors LLC grew its holdings in shares of Corbus Pharmaceuticals by 36.3% in the fourth quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company's stock valued at $13,002,000 after acquiring an additional 425,000 shares in the last quarter. Armistice Capital LLC grew its holdings in shares of Corbus Pharmaceuticals by 179.2% in the fourth quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company's stock valued at $4,363,000 after acquiring an additional 344,000 shares in the last quarter. Prosight Management LP grew its holdings in shares of Corbus Pharmaceuticals by 99.1% in the fourth quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company's stock valued at $5,567,000 after acquiring an additional 340,472 shares in the last quarter. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Corbus Pharmaceuticals by 2,711.6% in the fourth quarter. ADAR1 Capital Management LLC now owns 286,781 shares of the biopharmaceutical company's stock valued at $2,334,000 after acquiring an additional 276,581 shares in the last quarter. 64.64% of the stock is 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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