BidaskClub upgraded shares of Corbus Pharmaceuticals (NASDAQ:CRBP) from a strong sell rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

CRBP has been the topic of a number of other research reports. HC Wainwright set a $24.00 price objective on Corbus Pharmaceuticals and gave the stock a buy rating in a research note on Monday, June 24th. ValuEngine lowered Corbus Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Friday, August 2nd. Royal Bank of Canada restated a buy rating and set a $23.00 price objective on shares of Corbus Pharmaceuticals in a research note on Sunday. Finally, Zacks Investment Research upgraded Corbus Pharmaceuticals from a hold rating to a strong-buy rating and set a $7.00 price objective on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $23.50.

Corbus Pharmaceuticals stock traded down $0.23 during mid-day trading on Wednesday, reaching $5.50. 20,571 shares of the company were exchanged, compared to its average volume of 645,993. The firm’s fifty day simple moving average is $6.30. Corbus Pharmaceuticals has a 12 month low of $4.65 and a 12 month high of $9.11. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.17. The company has a market cap of $370.45 million, a price-to-earnings ratio of -5.62 and a beta of 1.84.

Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.25. Corbus Pharmaceuticals had a negative return on equity of 149.05% and a negative net margin of 164.68%. The firm had revenue of $29.10 million for the quarter, compared to analyst estimates of $10.32 million. As a group, research analysts expect that Corbus Pharmaceuticals will post -1.11 EPS for the current year.

In other Corbus Pharmaceuticals news, COO Robert Paul Discordia purchased 15,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $5.86 per share, for a total transaction of $87,900.00. Following the purchase, the chief operating officer now owns 30,150 shares in the company, valued at approximately $176,679. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders bought 19,064 shares of company stock worth $114,021. Corporate insiders own 8.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CRBP. Aperio Group LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $29,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Corbus Pharmaceuticals by 72,906.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,681 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 11,665 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at $97,000. WINTON GROUP Ltd acquired a new stake in shares of Corbus Pharmaceuticals during the 2nd quarter valued at $97,000. Finally, Cetera Advisor Networks LLC acquired a new stake in shares of Corbus Pharmaceuticals during the 1st quarter valued at $98,000. Institutional investors own 36.78% of the company’s stock.

Corbus Pharmaceuticals Company Profile

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 drug that is in Phase 3 clinical trial for the treatment of systemic sclerosis and dermatomyositis, and in Phase 2 clinical trial to treat systemic lupus erythematosus and cystic fibrosis.

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Analyst Recommendations for Corbus Pharmaceuticals (NASDAQ:CRBP)

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