Shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) were up 6.5% on Wednesday . The stock traded as high as $5.25 and last traded at $5.08, approximately 1,063,300 shares were traded during trading. An increase of 7% from the average daily volume of 994,507 shares. The stock had previously closed at $4.77.
Several research analysts recently weighed in on CRBP shares. Royal Bank of Canada restated a “buy” rating and set a $23.00 target price on shares of Corbus Pharmaceuticals in a research note on Sunday, August 11th. BidaskClub upgraded Corbus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Zacks Investment Research downgraded Corbus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Corbus Pharmaceuticals has an average rating of “Buy” and a consensus price target of $23.71.
The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.88 and a current ratio of 1.88. The company has a 50 day simple moving average of $4.84 and a two-hundred day simple moving average of $5.77. The firm has a market cap of $303.96 million, a PE ratio of -5.18 and a beta of 1.81.
Corbus Pharmaceuticals (NASDAQ:CRBP) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.04. The business had revenue of $2.59 million for the quarter, compared to the consensus estimate of $1.73 million. Corbus Pharmaceuticals had a negative return on equity of 169.38% and a negative net margin of 175.16%. As a group, research analysts predict that Corbus Pharmaceuticals Holdings Inc will post -1.06 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. ETF Managers Group LLC purchased a new stake in Corbus Pharmaceuticals during the 2nd quarter valued at about $48,587,000. BlackRock Inc. grew its stake in Corbus Pharmaceuticals by 5.0% during the 2nd quarter. BlackRock Inc. now owns 5,284,629 shares of the biopharmaceutical company’s stock valued at $36,623,000 after purchasing an additional 253,676 shares during the last quarter. Vanguard Group Inc. grew its stake in Corbus Pharmaceuticals by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,080,166 shares of the biopharmaceutical company’s stock valued at $21,346,000 after purchasing an additional 220,625 shares during the last quarter. State Street Corp grew its stake in Corbus Pharmaceuticals by 5.6% during the 3rd quarter. State Street Corp now owns 1,099,507 shares of the biopharmaceutical company’s stock valued at $5,355,000 after purchasing an additional 58,547 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Corbus Pharmaceuticals during the 3rd quarter valued at about $1,062,000. Institutional investors and hedge funds own 49.23% of the company’s stock.
Corbus Pharmaceuticals Company Profile (NASDAQ:CRBP)
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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