Noble Financial Reiterates Buy Rating for Corbus Pharmaceuticals (CRBP)
Corbus Pharmaceuticals (NASDAQ:CRBP)‘s stock had its “buy” rating restated by stock analysts at Noble Financial in a research note issued on Saturday.
CRBP has been the topic of several other reports. BidaskClub lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. ValuEngine lowered shares of Corbus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, September 13th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Corbus Pharmaceuticals in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Corbus Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $25.00.
Shares of Corbus Pharmaceuticals (NASDAQ CRBP) traded down $0.18 during midday trading on Friday, reaching $6.82. 415,800 shares of the company traded hands, compared to its average volume of 792,624. The company has a market capitalization of $365.15, a price-to-earnings ratio of -11.00 and a beta of 175.11. Corbus Pharmaceuticals has a fifty-two week low of $5.30 and a fifty-two week high of $10.50.
In other Corbus Pharmaceuticals news, Director David P. Hochman acquired 10,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were purchased at an average cost of $7.08 per share, with a total value of $70,800.00. Following the completion of the purchase, the director now owns 459,500 shares of the company’s stock, valued at $3,253,260. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Hochman acquired 5,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $6.90 per share, for a total transaction of $34,500.00. The disclosure for this purchase can be found here. Insiders acquired 25,336 shares of company stock worth $175,632 over the last ninety days. Insiders own 11.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System bought a new position in shares of Corbus Pharmaceuticals in the third quarter valued at $108,000. Yellowstone Partners LLC purchased a new stake in shares of Corbus Pharmaceuticals in the third quarter valued at about $110,000. Voya Investment Management LLC purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at about $125,000. Capital Fund Management S.A. purchased a new stake in shares of Corbus Pharmaceuticals in the second quarter valued at about $130,000. Finally, Credit Suisse AG purchased a new stake in shares of Corbus Pharmaceuticals in the first quarter valued at about $157,000. 27.84% of the stock is currently owned by hedge funds and other institutional investors.
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About Corbus Pharmaceuticals
Corbus Pharmaceuticals Holdings, Inc is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare, chronic and serious inflammatory and fibrotic diseases. The Company operates through developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases segment.
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