Corbus Pharmaceuticals (CRBP) Lifted to “Buy” at Zacks Investment Research

Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm currently has a $7.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 8.24% from the company’s previous close.

According to Zacks, “Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company’s lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus. “

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine upgraded shares of Corbus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group began coverage on shares of Corbus Pharmaceuticals in a research report on Friday, April 5th. They issued a “buy” rating and a $18.00 target price on the stock. HC Wainwright began coverage on shares of Corbus Pharmaceuticals in a research note on Wednesday, December 26th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, CIBC began coverage on shares of Corbus Pharmaceuticals in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $28.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Corbus Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $23.59.



Shares of NASDAQ CRBP traded up $0.18 during trading on Monday, hitting $7.16. The company had a trading volume of 1,297,368 shares, compared to its average volume of 1,662,530. Corbus Pharmaceuticals has a fifty-two week low of $4.50 and a fifty-two week high of $9.11. The firm has a market cap of $448.64 million, a price-to-earnings ratio of -7.31 and a beta of 2.16.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). Corbus Pharmaceuticals had a negative net margin of 1,154.52% and a negative return on equity of 116.34%. The company had revenue of $1.93 million during the quarter, compared to analyst estimates of $1.99 million. Equities analysts expect that Corbus Pharmaceuticals will post -0.88 EPS for the current fiscal year.

In other Corbus Pharmaceuticals news, insider Barbara White purchased 4,638 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $6.47 per share, with a total value of $30,007.86. Following the completion of the purchase, the insider now owns 184,159 shares in the company, valued at approximately $1,191,508.73. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 8,668 shares of company stock worth $56,923. Insiders own 12.60% of the company’s stock.

Large investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Corbus Pharmaceuticals by 5,967.8% in the fourth quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 8,892 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Corbus Pharmaceuticals by 357.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,973 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 13,265 shares in the last quarter. MetLife Investment Advisors LLC lifted its stake in shares of Corbus Pharmaceuticals by 57.5% in the third quarter. MetLife Investment Advisors LLC now owns 36,354 shares of the biopharmaceutical company’s stock worth $274,000 after buying an additional 13,265 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Corbus Pharmaceuticals by 76.5% in the fourth quarter. D.A. Davidson & CO. now owns 36,460 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 15,800 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Corbus Pharmaceuticals by 6.7% in the fourth quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 2,335 shares in the last quarter. 40.27% of the stock is currently owned by hedge funds and other institutional investors.

Corbus Pharmaceuticals Company Profile

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-mimetic drug to resolve chronic inflammation and fibrotic processes in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus diseases.

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