Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP – Free Report) from a strong sell rating to a sell rating in a report issued on Saturday.
Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, February 18th. Oppenheimer boosted their target price 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Two 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.71.
View Our Latest Research Report on Corbus Pharmaceuticals
Corbus Pharmaceuticals Trading Up 0.2%
NASDAQ:CRBP opened at $10.08 on Friday. The stock has a market capitalization of $178.82 million, a PE ratio of -1.69 and a beta of 2.78. The firm’s 50 day moving average is $9.18 and its 200 day moving average is $10.15. Corbus Pharmaceuticals has a 12 month low of $6.10 and a 12 month high of $20.56.
Corbus Pharmaceuticals (NASDAQ:CRBP – Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) EPS for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.53. Research analysts predict that Corbus Pharmaceuticals will post -4.78 earnings per share for the current year.
Insider Transactions at Corbus Pharmaceuticals
In other Corbus Pharmaceuticals news, insider Dominic Smethurst sold 3,285 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.50% of the stock is owned by insiders.
Institutional Investors Weigh In On Corbus Pharmaceuticals
A number of hedge funds and other institutional investors have recently bought and sold shares of CRBP. Aberdeen Group plc increased 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 purchasing an additional 1,133,519 shares during the period. Orbimed Advisors LLC increased 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 worth $13,002,000 after purchasing an additional 425,000 shares during the period. Armistice Capital LLC increased 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 worth $4,363,000 after purchasing an additional 344,000 shares during the period. Prosight Management LP increased 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 purchasing an additional 340,472 shares during the period. Finally, ADAR1 Capital Management LLC increased 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 worth $2,334,000 after purchasing an additional 276,581 shares during the period. Institutional investors own 64.64% of the company’s stock.
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.