Corbus Pharmaceuticals (CRBP) Coverage Initiated by Analysts at Oppenheimer

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Oppenheimer started coverage on shares of Corbus Pharmaceuticals (NASDAQ:CRBP) in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $28.00 target price on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for Corbus Pharmaceuticals’ Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at ($0.25) EPS, Q3 2019 earnings at ($0.25) EPS, Q4 2019 earnings at ($0.24) EPS, FY2019 earnings at ($0.58) EPS, FY2020 earnings at ($1.02) EPS, FY2021 earnings at ($0.57) EPS and FY2022 earnings at $0.54 EPS.

CRBP has been the topic of a number of other research reports. ValuEngine downgraded shares of Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Thursday, February 28th. Cantor Fitzgerald reaffirmed a buy rating and set a $38.00 price target on shares of Corbus Pharmaceuticals in a research note on Tuesday, March 12th. HC Wainwright reaffirmed a buy rating and set a $24.00 price target on shares of Corbus Pharmaceuticals in a research note on Friday, January 4th. Royal Bank of Canada assumed coverage on shares of Corbus Pharmaceuticals in a research note on Friday, December 7th. They set an outperform rating and a $23.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Corbus Pharmaceuticals from a strong-buy rating to a hold rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Corbus Pharmaceuticals presently has a consensus rating of Buy and an average target price of $24.50.

Corbus Pharmaceuticals stock opened at $7.05 on Tuesday. Corbus Pharmaceuticals has a 52-week low of $4.50 and a 52-week high of $9.11.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). The business had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $1.99 million. Corbus Pharmaceuticals had a negative net margin of 1,154.52% and a negative return on equity of 116.34%. Research analysts forecast that Corbus Pharmaceuticals will post -0.85 earnings per share for the current year.

In other news, insider Barbara White acquired 4,638 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $6.47 per share, for a total transaction of $30,007.86. Following the completion of the transaction, the insider now directly owns 184,159 shares of the company’s stock, valued at approximately $1,191,508.73. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired 8,668 shares of company stock worth $56,923 in the last quarter. Company insiders own 12.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its position in Corbus Pharmaceuticals by 6.7% during the fourth quarter. Bank of America Corp DE now owns 37,304 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 2,335 shares during the last quarter. Barclays PLC increased its position in Corbus Pharmaceuticals by 5,967.8% during the fourth quarter. Barclays PLC now owns 9,041 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 8,892 shares during the last quarter. Vanguard Group Inc. increased its position in Corbus Pharmaceuticals by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after acquiring an additional 11,609 shares during the last quarter. Vanguard Group Inc increased its position in Corbus Pharmaceuticals by 0.5% during the third quarter. Vanguard Group Inc now owns 2,390,014 shares of the biopharmaceutical company’s stock valued at $18,045,000 after acquiring an additional 11,609 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Corbus Pharmaceuticals by 32.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 47,534 shares of the biopharmaceutical company’s stock valued at $278,000 after acquiring an additional 11,650 shares during the last quarter. Institutional investors and hedge funds own 40.27% of the company’s stock.

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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