Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Reaffirmed by Oppenheimer

Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating restated by research analysts at Oppenheimer in a research note issued to investors on Monday, AnalystRatings.com reports. They currently have a $28.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price target points to a potential upside of 233.73% from the company’s current price.

A number of other equities analysts have also recently issued reports on CRBP. Nomura Securities started coverage on shares of Corbus Pharmaceuticals in a research report on Thursday, March 26th. They set a “buy” rating and a $112.00 target price for the company. Nomura lifted their price target on shares of Corbus Pharmaceuticals from $12.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Nomura Instinet lifted their price target on shares of Corbus Pharmaceuticals from $12.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. BTIG Research started coverage on shares of Corbus Pharmaceuticals in a report on Tuesday, June 16th. They set a “buy” rating and a $22.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, June 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $35.09.

Shares of CRBP opened at $8.39 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. The stock has a market cap of $573.40 million, a P/E ratio of -7.42 and a beta of 1.45. The company has a 50-day moving average of $7.37 and a two-hundred day moving average of $6.07. Corbus Pharmaceuticals has a 12-month low of $3.29 and a 12-month high of $8.66.

Corbus Pharmaceuticals (NASDAQ:CRBP) last announced its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.03). The business had revenue of $1.76 million for the quarter, compared to analyst estimates of $1.64 million. Corbus Pharmaceuticals had a negative return on equity of 282.91% and a negative net margin of 207.87%. As a group, analysts forecast that Corbus Pharmaceuticals will post -1.64 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Corbus Pharmaceuticals by 3.1% in the first quarter. State Street Corp now owns 1,156,624 shares of the biopharmaceutical company’s stock valued at $6,061,000 after purchasing an additional 34,951 shares during the period. Royal Bank of Canada grew its holdings in Corbus Pharmaceuticals by 15.9% in the first quarter. Royal Bank of Canada now owns 180,753 shares of the biopharmaceutical company’s stock valued at $947,000 after purchasing an additional 24,856 shares during the period. Advisor Group Holdings Inc. purchased a new stake in Corbus Pharmaceuticals in the first quarter valued at approximately $30,000. Caxton Associates LP purchased a new stake in Corbus Pharmaceuticals in the first quarter valued at approximately $110,000. Finally, Engineers Gate Manager LP purchased a new stake in Corbus Pharmaceuticals in the first quarter valued at approximately $71,000. Hedge funds and other institutional investors own 48.75% of the company’s stock.

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 drug that is in Phase III clinical trials for the treatment of systemic sclerosis and dermatomyositis, and in Phase IIb clinical trials to treat systemic lupus erythematosus and cystic fibrosis.

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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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