Brokerages Set Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) Target Price at $23.50

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) has earned an average recommendation of “Buy” from the ten analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.50.

Several research analysts have weighed in on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $23.00 price target on shares of Corbus Pharmaceuticals in a report on Sunday, August 11th. HC Wainwright set a $24.00 target price on shares of Corbus Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, June 24th. Zacks Investment Research upgraded shares of Corbus Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $7.00 target price on the stock in a research report on Tuesday, August 13th. ValuEngine lowered shares of Corbus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, BidaskClub upgraded shares of Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 14th.

Corbus Pharmaceuticals stock opened at $5.30 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 2.56. Corbus Pharmaceuticals has a twelve month low of $4.80 and a twelve month high of $9.11. The company’s 50-day moving average price is $6.07 and its two-hundred day moving average price is $6.93.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ 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%. On average, analysts forecast that Corbus Pharmaceuticals will post -1.05 EPS for the current fiscal year.

In other Corbus Pharmaceuticals news, COO Robert Paul Discordia bought 15,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $5.86 per share, for a total transaction of $87,900.00. Following the transaction, the chief operating officer now directly owns 30,150 shares in the company, valued at approximately $176,679. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 19,175 shares of company stock worth $112,241. Company insiders own 8.20% of the company’s stock.

Several large investors have recently made changes to their positions in CRBP. ETF Managers Group LLC acquired a new position in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $48,587,000. General American Investors Co. Inc. acquired a new position in shares of Corbus Pharmaceuticals during the 1st quarter worth approximately $3,874,000. BlackRock Inc. grew its position in shares of Corbus Pharmaceuticals by 5.0% during the 2nd quarter. BlackRock Inc. now owns 5,284,629 shares of the biopharmaceutical company’s stock worth $36,623,000 after purchasing an additional 253,676 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Corbus Pharmaceuticals by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,080,166 shares of the biopharmaceutical company’s stock worth $21,346,000 after acquiring an additional 220,625 shares in the last quarter. Finally, AE Wealth Management LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter worth approximately $755,000. Hedge funds and other institutional investors own 38.35% 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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