Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Receives $44.38 Average PT from Analysts

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $44.3750.

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, January 21st. Jefferies Financial Group upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating in a report on Wednesday. Royal Bank Of Canada decreased their price target on Corbus Pharmaceuticals from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Mizuho set a $39.00 price objective on Corbus Pharmaceuticals in a research report on Wednesday, October 29th.

Insider Activity at Corbus Pharmaceuticals

In other news, insider Dominic Smethurst sold 3,285 shares of Corbus Pharmaceuticals stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $8.09, for a total value of $26,575.65. Following the completion of the sale, the insider owned 95,887 shares in the company, valued at $775,725.83. The trade was a 3.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Cormorant Asset Management, Lp sold 30,029 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.46, for a total transaction of $344,132.34. Following the transaction, the insider directly owned 2,344,971 shares in the company, valued at approximately $26,873,367.66. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 35,729 shares of company stock worth $390,245. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new stake in shares of Corbus Pharmaceuticals in the 4th quarter valued at about $54,000. Corton Capital Inc. acquired a new stake in Corbus Pharmaceuticals in the second quarter valued at approximately $86,000. Barclays PLC grew its stake in Corbus Pharmaceuticals by 280.0% in the fourth quarter. Barclays PLC now owns 14,758 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 10,874 shares during the period. ADAR1 Capital Management LLC bought a new stake in shares of Corbus Pharmaceuticals during the third quarter valued at approximately $129,000. Finally, Marshall Wace LLP acquired a new position in shares of Corbus Pharmaceuticals during the second quarter worth approximately $137,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

Corbus Pharmaceuticals Trading Down 3.4%

Shares of CRBP stock opened at $7.42 on Tuesday. Corbus Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $20.56. The stock has a market cap of $130.22 million, a price-to-earnings ratio of -1.35 and a beta of 2.86. The stock has a 50-day moving average of $8.20 and a 200-day moving average of $10.60.

Corbus Pharmaceuticals Company Profile

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.