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

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $43.7143.

A number of brokerages have recently commented on CRBP. Jefferies Financial Group raised Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Oppenheimer upped their price objective on shares of Corbus Pharmaceuticals from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th.

Corbus Pharmaceuticals Stock Down 3.8%

CRBP opened at $8.60 on Friday. The stock has a market cap of $152.56 million, a price-to-earnings ratio of -1.44 and a beta of 2.84. Corbus Pharmaceuticals has a twelve month low of $4.64 and a twelve month high of $20.56. The company’s 50-day moving average price is $8.39 and its two-hundred day moving average price is $10.50.

Corbus Pharmaceuticals (NASDAQ:CRBP) last issued its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.78) by $0.53. As a group, sell-side analysts anticipate that Corbus Pharmaceuticals will post -4.23 earnings per share for the current year.

Insider Activity

In other news, insider Dominic Smethurst sold 3,285 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were 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 of the company’s stock, valued at $775,725.83. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Orbimed Advisors LLC raised its holdings in Corbus Pharmaceuticals by 36.3% during the 4th 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 during the period. Aberdeen Group plc boosted 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 worth $10,759,000 after acquiring an additional 1,133,519 shares during the period. Prosight Management LP boosted 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 worth $5,567,000 after acquiring an additional 340,472 shares during the period. Vanguard Group Inc. grew its position in shares of Corbus Pharmaceuticals by 2.1% in the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock valued at $7,742,000 after purchasing an additional 12,535 shares in the last quarter. Finally, Armistice Capital LLC grew its position 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 purchasing an additional 344,000 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.