Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $41.00.

CRBP has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating on shares of Corbus Pharmaceuticals in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Friday, July 17th. Wedbush decreased their target price on Corbus Pharmaceuticals from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Wall Street Zen lowered Corbus Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Mizuho set a $33.00 price target on Corbus Pharmaceuticals in a report on Thursday, August 13th.

Insiders Place Their Bets

In other news, CEO Yuval Cohen sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $10.08, for a total transaction of $171,360.00. Following the transaction, the chief executive officer directly owned 157,316 shares in the company, valued at approximately $1,585,745.28. This represents a 9.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sean Moran sold 12,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $10.08, for a total transaction of $120,960.00. Following the sale, the chief financial officer directly owned 84,694 shares in the company, valued at $853,715.52. This trade represents a 12.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRBP. AQR Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals during the first quarter worth $573,000. Marshall Wace LLP bought a new position in Corbus Pharmaceuticals in the second quarter valued at about $137,000. Bank of America Corp DE boosted its holdings in Corbus Pharmaceuticals by 333.6% in the second quarter. Bank of America Corp DE now owns 71,893 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 55,314 shares during the last quarter. Vanguard Group Inc. raised its holdings in Corbus Pharmaceuticals by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock worth $7,742,000 after purchasing an additional 12,535 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in Corbus Pharmaceuticals during the 3rd quarter worth about $129,000. 64.64% of the stock is currently owned by institutional investors.

Corbus Pharmaceuticals Stock Performance

CRBP opened at $8.12 on Friday. The firm’s 50-day simple moving average is $9.77 and its 200-day simple moving average is $9.43. Corbus Pharmaceuticals has a twelve month low of $7.12 and a twelve month high of $20.56. The firm has a market cap of $151.60 million, a price-to-earnings ratio of -1.31 and a beta of 2.63.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly 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). As a group, sell-side analysts anticipate that Corbus Pharmaceuticals will post -5.54 EPS for the current fiscal year.

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.