ValuEngine Lowers Corbus Pharmaceuticals (NASDAQ:CRBP) to Buy

ValuEngine lowered shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a strong-buy rating to a buy rating in a report issued on Friday morning, ValuEngine reports.

CRBP has been the subject of a number of other research reports. HC Wainwright set a $24.00 price target on shares of Corbus Pharmaceuticals and gave the company a buy rating in a research note on Monday, June 24th. Jefferies Financial Group started coverage on shares of Corbus Pharmaceuticals in a research note on Friday, April 5th. They issued a buy rating and a $18.00 price target for the company. Zacks Investment Research upgraded shares of Corbus Pharmaceuticals from a hold rating to a buy rating and set a $6.75 price target for the company in a research note on Thursday, July 25th. Finally, BidaskClub cut shares of Corbus Pharmaceuticals from a sell rating to a strong sell rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Corbus Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $23.47.

CRBP stock traded down $0.23 during trading hours on Friday, reaching $5.42. The stock had a trading volume of 8,997 shares, compared to its average volume of 468,361. The company has a market capitalization of $352.60 million, a PE ratio of -5.58 and a beta of 1.84. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average is $6.61. Corbus Pharmaceuticals has a fifty-two week low of $4.50 and a fifty-two week high of $9.11.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.45). The firm had revenue of $1.89 million during the quarter, compared to analyst estimates of $20.97 million. Corbus Pharmaceuticals had a negative net margin of 1,219.36% and a negative return on equity of 166.99%. As a group, sell-side analysts predict that Corbus Pharmaceuticals will post -1.2 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $29,000. Barclays PLC lifted its stake in shares of Corbus Pharmaceuticals by 5,967.8% during the 4th quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 8,892 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Corbus Pharmaceuticals by 72,906.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 11,665 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter worth about $97,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth about $97,000. Institutional investors own 36.85% 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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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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