Corbus Pharmaceuticals (CRBP) Raised to “Buy” at ValuEngine

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Corbus Pharmaceuticals (NASDAQ:CRBP) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other analysts have also commented on CRBP. BidaskClub raised Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 10th. Cantor Fitzgerald set a $36.00 price objective on Corbus Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $26.67.

CRBP opened at $4.95 on Friday. The firm has a market cap of $297.47 million, a P/E ratio of -7.62 and a beta of 2.21. Corbus Pharmaceuticals has a 52 week low of $4.50 and a 52 week high of $9.95.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The company had revenue of $0.85 million for the quarter, compared to analyst estimates of $1.90 million. research analysts expect that Corbus Pharmaceuticals will post -0.84 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its position in Corbus Pharmaceuticals by 33.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,954 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 9,050 shares during the period. BlackRock Inc. lifted its position in Corbus Pharmaceuticals by 1.5% during the first quarter. BlackRock Inc. now owns 3,648,579 shares of the biopharmaceutical company’s stock worth $22,257,000 after buying an additional 53,714 shares during the period. IFP Advisors Inc lifted its position in Corbus Pharmaceuticals by 33.9% during the first quarter. IFP Advisors Inc now owns 1,340,555 shares of the biopharmaceutical company’s stock worth $8,177,000 after buying an additional 339,750 shares during the period. Allianz Asset Management GmbH lifted its position in Corbus Pharmaceuticals by 15.8% during the first quarter. Allianz Asset Management GmbH now owns 137,624 shares of the biopharmaceutical company’s stock worth $840,000 after buying an additional 18,778 shares during the period. Finally, Barclays PLC lifted its position in Corbus Pharmaceuticals by 237.5% during the first quarter. Barclays PLC now owns 28,302 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 19,917 shares during the period. 42.62% of the stock is currently owned by institutional investors and hedge funds.

About Corbus Pharmaceuticals

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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