Corbus Pharmaceuticals (NASDAQ:CRBP) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a strong sell rating to a sell rating in a research report report published on Saturday.

A number of other equities research analysts also recently weighed in on CRBP. Weiss Ratings reissued a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Monday, April 20th. Oppenheimer lifted their target price on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group raised Corbus Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Corbus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $43.71.

Corbus Pharmaceuticals Stock Down 1.6%

CRBP stock opened at $10.06 on Friday. Corbus Pharmaceuticals has a twelve month low of $6.10 and a twelve month high of $20.56. The company has a market cap of $178.42 million, a PE ratio of -1.68 and a beta of 2.78. The business’s 50-day simple moving average is $9.13 and its 200 day simple moving average is $10.21.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Monday, March 9th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.53. On average, equities research analysts anticipate that Corbus Pharmaceuticals will post -4.78 EPS for the current year.

Insider Buying and Selling

In other Corbus Pharmaceuticals news, insider Dominic Smethurst sold 3,285 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total transaction of $26,575.65. Following the completion of the transaction, the insider owned 95,887 shares in the company, valued at $775,725.83. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Orbimed Advisors LLC lifted its stake in Corbus Pharmaceuticals by 36.3% during the fourth quarter. Orbimed Advisors LLC now owns 1,597,287 shares of the biopharmaceutical company’s stock worth $13,002,000 after purchasing an additional 425,000 shares during the period. Aberdeen Group plc lifted its stake in Corbus Pharmaceuticals by 602.2% during the fourth quarter. Aberdeen Group plc now owns 1,321,750 shares of the biopharmaceutical company’s stock worth $10,759,000 after purchasing an additional 1,133,519 shares during the period. Prosight Management LP lifted its stake in Corbus Pharmaceuticals by 99.1% during the fourth quarter. Prosight Management LP now owns 683,872 shares of the biopharmaceutical company’s stock worth $5,567,000 after purchasing an additional 340,472 shares during the period. Vanguard Group Inc. lifted its stake in Corbus Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 612,030 shares of the biopharmaceutical company’s stock worth $7,742,000 after purchasing an additional 12,535 shares during the period. Finally, Armistice Capital LLC lifted its stake in Corbus Pharmaceuticals by 179.2% during the fourth quarter. Armistice Capital LLC now owns 536,000 shares of the biopharmaceutical company’s stock worth $4,363,000 after purchasing an additional 344,000 shares during the period. Institutional investors own 64.64% of the company’s stock.

About Corbus Pharmaceuticals

Corbus Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of therapeutic candidates for rare, life-threatening inflammatory and fibrotic diseases. The company’s lead investigational therapy, lenabasum, is a synthetic, oral cannabinoid receptor type 2 (CB2) agonist designed to resolve chronic inflammation by harnessing the body’s innate resolution pathways. Corbus operates by advancing small-molecule compounds through preclinical and clinical studies to address unmet medical needs in autoimmune and inflammatory disorders.

Lenabasum is currently under evaluation in a Phase 3 clinical trial for diffuse cutaneous systemic sclerosis (dcSSc) and in a Phase 2 study for cystic fibrosis–related inflammation.