Corbus Pharmaceuticals (NASDAQ:CRBP) Stock Rating Upgraded by Guggenheim

Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by stock analysts at Guggenheim to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a report on Monday, April 20th. Oppenheimer upped their target price on Corbus Pharmaceuticals from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Jefferies Financial Group upgraded Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Corbus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $43.88.

Corbus Pharmaceuticals Stock Up 0.6%

CRBP stock opened at $9.88 on Wednesday. The firm has a market cap of $175.27 million, a PE ratio of -1.65 and a beta of 2.78. The business has a 50 day moving average of $9.32 and a 200-day moving average of $10.11. Corbus Pharmaceuticals has a 12-month low of $6.10 and a 12-month high of $20.56.

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

Insider Buying and Selling

In related news, insider Dominic Smethurst sold 3,285 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $8.09, for a total value of $26,575.65. Following the transaction, the insider owned 95,887 shares in the company, valued at approximately $775,725.83. This represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Corbus Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP purchased a new position in Corbus Pharmaceuticals in the fourth quarter valued at approximately $462,000. Virtu Financial LLC purchased a new position in Corbus Pharmaceuticals in the fourth quarter valued at approximately $88,000. Quadrature Capital Ltd purchased a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth $243,000. Orbimed Advisors LLC lifted its position in shares of 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 acquiring an additional 425,000 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Corbus Pharmaceuticals during the fourth quarter worth $140,000. Hedge funds and other 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.