According to Zacks, “Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. “
CRBP has been the topic of a number of other research reports. Royal Bank of Canada reissued a buy rating and set a $23.00 price target on shares of Corbus Pharmaceuticals in a report on Sunday. ValuEngine lowered Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a report on Friday, August 2nd. HC Wainwright set a $24.00 price target on Corbus Pharmaceuticals and gave the stock a buy rating in a report on Monday, June 24th. Finally, BidaskClub lowered Corbus Pharmaceuticals from a sell rating to a strong sell rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $23.50.
Shares of CRBP opened at $5.73 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.78 and a current ratio of 1.78. Corbus Pharmaceuticals has a 1 year low of $4.65 and a 1 year high of $9.11. The stock has a 50 day moving average price of $6.30. The stock has a market capitalization of $370.45 million, a price-to-earnings ratio of -5.85 and a beta of 1.84.
Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.25. Corbus Pharmaceuticals had a negative return on equity of 149.05% and a negative net margin of 164.68%. The firm had revenue of $29.10 million during the quarter, compared to the consensus estimate of $10.32 million. As a group, equities research analysts anticipate that Corbus Pharmaceuticals will post -1.11 EPS for the current year.
In other news, COO Robert Paul Discordia purchased 15,000 shares of Corbus Pharmaceuticals stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $5.86 per share, for a total transaction of $87,900.00. Following the transaction, the chief operating officer now owns 30,150 shares in the company, valued at $176,679. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 19,064 shares of company stock valued at $114,021. 8.20% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Corbus Pharmaceuticals by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 194,374 shares of the biopharmaceutical company’s stock valued at $1,135,000 after acquiring an additional 16,305 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Corbus Pharmaceuticals by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 542,722 shares of the biopharmaceutical company’s stock valued at $3,169,000 after acquiring an additional 28,582 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Corbus Pharmaceuticals by 6.7% in the 4th quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 2,335 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Corbus Pharmaceuticals by 357.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 13,265 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Corbus Pharmaceuticals by 331.4% in the 4th quarter. Millennium Management LLC now owns 130,245 shares of the biopharmaceutical company’s stock valued at $761,000 after acquiring an additional 100,051 shares in the last quarter. Institutional investors and hedge funds own 36.78% of the company’s stock.
About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Its lead product candidate is lenabasum, a synthetic oral endocannabinoid drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.
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