Corbus Pharmaceuticals (NASDAQ:CRBP) Lifted to Sell at BidaskClub

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BidaskClub upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a strong sell rating to a sell rating in a research report released on Thursday morning, BidAskClub reports.

A number of other research analysts also recently weighed in on CRBP. ValuEngine downgraded shares of Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Friday, August 2nd. HC Wainwright set a $24.00 price target on shares of Corbus Pharmaceuticals and gave the stock a buy rating in a research report on Monday, June 24th. Royal Bank of Canada reiterated a buy rating and issued a $23.00 price target on shares of Corbus Pharmaceuticals in a research report on Sunday, August 11th. Finally, Zacks Investment Research upgraded shares of Corbus Pharmaceuticals from a hold rating to a strong-buy rating and set a $7.00 price target on the stock in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Corbus Pharmaceuticals currently has an average rating of Buy and an average price target of $23.50.

Shares of CRBP opened at $5.74 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.56 and a current ratio of 2.56. Corbus Pharmaceuticals has a fifty-two week low of $4.80 and a fifty-two week high of $9.11. The firm’s 50-day simple moving average is $5.61 and its two-hundred day simple moving average is $6.64.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.25. The firm had revenue of $29.10 million for the quarter, compared to analysts’ expectations of $10.32 million. Corbus Pharmaceuticals had a negative net margin of 164.68% and a negative return on equity of 139.91%. As a group, equities analysts expect that Corbus Pharmaceuticals will post -1.05 earnings per share for the current fiscal year.

In related news, COO Robert Paul Discordia bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $5.86 per share, with a total value of $87,900.00. Following the completion of the purchase, the chief operating officer now owns 30,150 shares of the company’s stock, valued at approximately $176,679. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 19,175 shares of company stock worth $112,241 over the last 90 days. Insiders own 8.20% of the company’s stock.

Several large investors have recently modified their holdings of CRBP. ETF Managers Group LLC bought a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at about $48,587,000. BlackRock Inc. boosted its holdings in shares of Corbus Pharmaceuticals by 5.0% in the 2nd quarter. BlackRock Inc. now owns 5,284,629 shares of the biopharmaceutical company’s stock valued at $36,623,000 after acquiring an additional 253,676 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Corbus Pharmaceuticals by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,080,166 shares of the biopharmaceutical company’s stock valued at $21,346,000 after acquiring an additional 220,625 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the 2nd quarter valued at $755,000. Finally, Stephens Inc. AR purchased a new stake in shares of Corbus Pharmaceuticals in the 1st quarter valued at $546,000. 50.05% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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