Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded by Wall Street Zen to "Sell" Rating

Key Points

• Corbus Pharmaceuticals was upgraded by Wall Street Zen from a "strong sell" to a "sell", though analyst coverage is mixed overall—MarketBeat shows an average rating of "Moderate Buy" with an average price target of $43.71 (2 Strong Buy, 6 Buy, 2 Sell).
• The stock opened at $10.06 (52‑week range $6.10–$20.56) with a $178.46M market cap, reported quarterly EPS of ($1.25) that beat estimates, and has heavy institutional ownership (64.64%) including a large stake increase by Orbimed Advisors.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday.

A number of other equities research analysts have also commented on the company. Oppenheimer upped their target price on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the company an "outperform" rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Corbus Pharmaceuticals in a research report on Monday. Finally, Jefferies Financial Group upgraded Corbus Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Corbus Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $43.71.

Corbus Pharmaceuticals Stock Performance

Shares of CRBP stock opened at $10.06 on Friday. Corbus Pharmaceuticals has a fifty-two week low of $6.10 and a fifty-two week high of $20.56. The firm has a market capitalization of $178.46 million, a price-to-earnings ratio of -1.68 and a beta of 2.78. The stock's 50-day simple moving average is $9.13 and its 200-day simple moving average is $10.24.

Corbus Pharmaceuticals (NASDAQ:CRBP - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, topping analysts' consensus estimates of ($1.78) by $0.53. As a group, equities analysts forecast that Corbus Pharmaceuticals will post -4.78 earnings per share for the current year.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, insider Dominic Smethurst sold 3,285 shares of the company'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 value of $26,575.65. Following the sale, the insider owned 95,887 shares in the company, valued at approximately $775,725.83. This represents a 3.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Seven Fleet Capital Management LP purchased a new stake in Corbus Pharmaceuticals in the 4th quarter worth approximately $462,000. Virtu Financial LLC purchased a new stake in Corbus Pharmaceuticals in the 4th quarter worth approximately $88,000. Quadrature Capital Ltd purchased a new stake in Corbus Pharmaceuticals in the 4th quarter worth approximately $243,000. Orbimed Advisors LLC boosted its position in Corbus Pharmaceuticals by 36.3% in the 4th quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company's stock worth $13,002,000 after purchasing an additional 425,000 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Corbus Pharmaceuticals in the 4th quarter worth approximately $140,000. Hedge funds and other institutional investors own 64.64% of the company's stock.

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.

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